JPMorgan Chase the biggest bank in America recently opened its new global headquarters. Located in Manhattan, New York City the new tower has set standards for beauty along with sustainability, health and wellness. The construction also created thousands of jobs helping the economy of the world’s largest commercial hub and is also part of the banker’s investments in Manhattan. CWEB analysts believe that this new all electric tower has strengthened JPMorgan Chase’s relationship with NYC.
The new JPMorgan Chase tower opened this week at 270 Park Avenue, Manhattan. It is a 60-storied building. It cost $30 billion and can accommodate 10,000 workers. There are many amenities, and it has been described as a future proofed building.
The tower designed by renowned architect Norman Foster stands 1,388 feet tall and has several workspaces and collaboration areas, lobby, restaurants, wellness spaces, and more.
The new NYC headquarters has net zero operational emissions and is the city’s largest all-electric tower with excellent indoor air quality. It also features more than double outdoor space when compared with the previous building and has a public plaza, green spaces and wider sidewalks.
JPMorgan Chase Jamie Dimon said, “For more than 225 years, JPMorgan Chase has been deeply rooted in New York City. The opening of our new global headquarters is not only a significant investment in New York but also a testament to our commitment to our clients and employees worldwide. By creating world-class environments where our employees can thrive, we are strengthening our ability to serve our clients and communities – locally and globally – for generations to come.”
JPMorgan has recently hired senior staff from Deutsche Bank and Goldman Sachs as it expands national and global operations. It is also allowing Bitcoin and Ether to be used as collateral as it pushes cryptocurrency. The Wall Street giant is now allowing institutions to borrow using crypto currency as a collateral asset.
CWEB analysts believe that the new headquarters, the investments in the US and the embrace of crypto currency will make the stock of JPMorgan Chase more bullish in future.
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