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JPMorgan Chase may shift to new HQ

img_0176JPMorgan Chase & Co is considering moving its headquarters within New York as the company has fewer employees in the nation’s largest city, according to a person briefed on the discussions. The potential plans, which include taking office space in Manhattan developments at the World Trade Center or Hudson Yards, are in early stages and no decision is imminent. JPMorgan had moved back-office jobs to New Jersey, Delaware and Florida to cut expenses. JPMorgan is examining its property holdings in New York, where it had 11.4 million square feet at the end of 2013, including 1.3 million at its 270 Park Ave. headquarters. The bank sold its 60-story skyscraper at 1 Chase Manhattan Plaza last year to Shanghai-based Fosun International, and began moving 2,000 employees to offices in Brooklyn’s MetroTech Center this year. It owns the Park Avenue building as well as the former headquarters of Bear Stearns Cos. at 383 Madison Ave., which it acquired in 2008. The bank may keep 270 Park and take some space in new projects, or it could opt to refurbish the Madison Avenue building

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