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JPMorgan Chase to continue to have HQ in New York

JPMorgan Chase said it will continue to have its global headquarters in New York City. It revealed it is building a new skyscraper in the city after demolishing the building on Park Avenue in Manhattan. The new skyscraper will have some 2.5-million-square-foot area, according to bank officials. The new building, the first major project under a broad midtown Manhattan rezoning plan the city approved in 2017, is expected to rise to 70 stories, topping the bank’s existing 52-story headquarters. Jamie Dimon, chairman and CEO of the bank, said in a statement with a new headquarters at 270 Park Avenue, the bank is recommitting itself to New York City while also ensuring that it operates in a highly efficient and world-class environment for the 21st century. The building project is expected to provide needed new space for the roughly 6,000 JPMorgan employees who now crowd into the current building that opened in 1961 and was designed for 3,500 office workers. The building previously served as the headquarters for Union Carbide.

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