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JPMorgan eyes space at previous Credit Suisse tower in Canary Wharf, source states

JPMorgan is in talks to take overflow office in Credit Suisse's empty previous workplaces in Canary Wharf, a source knowledgeable about the matter told Reuters, having actually outgrown its own European headquarters close by.

The Wall Street banking giant has stated that all personnel should return to operating in the office 5 days a week from March, though the source stated that settlements over the additional space pre-dated that policy shift.

Reuters reported in November that JPMorgan was examining its long-term alternatives for its London base after lacking space at its tower at 25 Bank Street. Options might include building a. new tower in Canary Wharf, updating its existing tower or. moving to the more central City of London.

The source stated that leasing area at the previous Credit. Suisse building at 1 Cabot Square is viewed as an interim. service.

UBS Group handled the lease of the Credit Suisse. structure after getting its stricken competitor in 2023, later. moving the staff to its own London workplace in the City. The. building is owned by the Qatar Investment Authority (QIA).

UBS declined to comment and a QIA representative was not. immediately readily available for remark.

Bloomberg initially reported on the talks, stating that JPMorgan. was seeking to lease approximately a third of the readily available space in. the structure.

(source: Reuters)