JPMorganChase has unveiled plans for a new 3 million sq ft headquarters tower at Canary Wharf that could house up to 12,000 staff, signalling a long-term commitment to London as its main UK base. The building would sit on the Riverside development and be designed by Foster + Partners, with the bank working alongside Canary Wharf Group as co-developer. 

An independent study commissioned by the New York-headquartered banking giant has estimated that the combined Riverside project and refurbishment work could add around £10 billion to the UK economy over the next six years and support more than 7,800 jobs across construction and related industries. 

JPMorganChase said its existing London operations already contribute nearly £7.5bn annually to the local economy, supporting around 38,000 jobs in the surrounding ecosystem.