JPMorgan Chase reached an agreement with London City Airport to construct a new United Kingdom headquarters in Canary Wharf.
The planned tower requires a £3bn investment. The structure will stand approximately 30 metres taller than One Canada Square. This height makes the skyscraper the tallest building in the financial district.
The hub will house more than half of the bank's local workforce. JPMorgan currently employs 23,000 people across the United Kingdom.
London City Airport approved the building's height despite its proximity to flight paths. This project signals a significant long-term investment by the Wall Street bank in London as a key financial center.