It might be perfect timimg for JPMorgan to move into a new London office. Dealbreaker found out a pipe burst on one of JPM’s London trading floors yesterday.
The upside is that JPMorgan might already be considering moving into a new office – Lehman’s old building in London, says the Independent.
Quick – before it happens again!
The move would mean that the bank had scratched their plans to build and expand into a brand new building in Canary Wharf, so some are construing it as a snub, says the Independent.
But Lehman’s office seems like an easier, logical, and cheaper location than a brand new building, so we’re not convinced.
From the Independent:
A person familiar with the situation said: “There is certainly lots of speculation that JP Morgan will move into the old Lehman building – it is one of the most sophisticated offices around and is crying out for an investment banking tenant. Given its wish to move, JP Morgan must be the front runner.”