JPMorgan plans major London expansion

JPMorgan has announced it will build a 3m sq ft tower in East London’s Canary Wharf, its largest office in EMEA, housing up to 12,000 employees. The investment, worth £9.9bn ($13.1bn) over six years, will create 7,800 jobs. JPMorgan chairman Jamie Dimon cited UK economic policy and the government’s growth agenda as key factors behind the decision. The move marks a win for Canary Wharf, which has faced tenant challenges post-pandemic. Meanwhile, Goldman Sachs plans to double the capacity of its Birmingham office, creating 500 jobs. The US banking group will invest several billion pounds in infrastructure, focusing on AI and digital sectors. Goldman Sachs said: “We are increasing our financing activities to critical parts of the economy where we see substantial opportunities to deploy capital.”