JP Morgan acquires Canary Wharf office

Office design news from Morgan Lovell

Published on 21-12-2010

US investment bank JP Morgan has announced the acquisition of a new office building in London.

The firm has purchased the former offices of Lehman Brothers - 25 Bank Street - at Canary Wharf for £495 million and the move has eased fears that the company could be planning to leave London in the coming months in protest against government efforts to curb the bonus culture in the finance sector.

JP Morgan chief executive Jamie Dimon commented: "This acquisition is a long-term investment and represents part of our continued commitment to London as one of the world's most important financial centres."

Elsewhere in the capital, Business Environment recently announced the creation of a new business centre in London's Cheapside district.

Situated opposite the recently opened One New Change retail centre, the development aims to highlight the area as one which is vibrant and up and coming for both business and retail.

Posted by Paul Kelly