JP Morgan has a new European HQ.
Yep, they’re moving into 25 Bank Street, London. Otherwise known as: the former home of Lehman Brothers.
The Canary Wharf skyscraper was occupied by Lehman Brothers until it collapsed in 2008.
Dealbook reported that the building was being sold to JP Morgan for $770 million.
With the additional purchase of office space at 60 Victoria Embankment, for its Treasuries and securities services business, rumours that Dimon was ready to quit the City altogether were clearly groundless.
“These properties are long-term investments and represent our continued commitment to London as one of the world’s most important financial centres,” Dimon said.
Hopefully JP Morgan will be a better occupant that Lehman, which. not surprisingly, defaulted on its lease.
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