JP Morgan is ready to ditch its stalled £1.5bn plans for a new European headquarters at Canary Wharf in London’s Docklands and move into Lehman Brothers’ old tower in the Docklands financial district.
The move to 25 Bank Street is thought to be one of a number of options the bank is considering. The former Lehman Brothers’ building would be cheaper to move into than building from scratch and JP Morgan would be able leave its City headquarters, on London Wall, ahead of schedule. Canary Wharf Group declined to comment. JP Morgan said it had “designed options and flexibility” into its real estate portfolio.
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