3 Million Square Feet: The Massive Scale of JP Morgan’s New London HQ

The staggering scale of JP Morgan’s new London project has been revealed: a 3 million square foot headquarters in Canary Wharf. This enormous undertaking, estimated at £3 billion, was announced immediately following the government’s assurance on banking taxes.
The colossal size of the new building is a clear indicator of JP Morgan’s multi-decade commitment to the UK. It is designed to house over 11,500 staff, consolidating operations and securing thousands of high-value jobs in the heart of the capital’s financial district.
The scale of commitment is national, with Goldman Sachs simultaneously announcing a major expansion of its regional footprint. The firm will hire 500 new technology-focused employees in Birmingham, significantly boosting its capacity outside of London.
The rapid timeline connecting the budget and the investment plans is highly significant. It demonstrates that fiscal stability was the final, critical factor required for the banks to commit to these massive capital and employment projects.
The government welcomed the news as a huge display of confidence, emphasizing that the sheer scale of JP Morgan’s investment, coupled with Goldman Sachs’ regional job growth, positions the UK strongly for future economic success.