JPMorgan Chase & Co. plans to build a new tower in Canary Wharf for its headquarters in the UK, a multibillion-pound endorsement of London’s status as a global financial center a day after Rachel Reeves delivered her budget.
The office building would be London’s largest by far at three million square feet and could host as many as 12,000 employees, according to a statementBloomberg Terminal from the investment bank Thursday. The construction is expected to take six years.