JPMorgan in Talks to Take Over Former Credit Suisse Office Space in Canary Wharf
Investment banking giant JPMorgan is reportedly in negotiations to lease excess office space in the former premises of Credit Suisse in London's Canary Wharf. The move comes as JPMorgan's existing European headquarters nearby reaches capacity.
According to a Reuters source, these discussions predate JPMorgan's recent mandate requiring all employees to return to the office full-time from March.
JPMorgan had been evaluating long-term options for its London base after outgrowing its current location at 25 Bank Street. Possibilities included constructing a new tower in Canary Wharf, enhancing the existing one, or relocating to the central City of London.
However, renting space at 1 Cabot Square, the former Credit Suisse building, is considered an interim solution. UBS Group assumed the lease after acquiring Credit Suisse in 2023 but later relocated its staff to its City of London office. Qatar Investment Authority (QIA) owns the building.
UBS and QIA declined to comment on the ongoing discussions. Bloomberg previously reported that JPMorgan intends to lease approximately one-third of the building's available space.