JPMorgan Said to Weigh Doubling Down on Dublin, New Dutch OfficeBy and
JPMorgan Chase & Co. is scouting for additional office space in Dublin and is also weighing occupying property in Amsterdam after the U.K.’s vote to leave the European Union, people with knowledge of the matter said.
The U.S.’s largest bank may lease or acquire about 100,000 square feet (9,300 square meters) of extra office space in the Irish capital, two people said, asking not to be identified because the plans are private. That’s enough for about 770 workers based on typical modern office use.
The bank last month agreed to pay about 125 million euros ($139 million) for an office building under construction in Dublin, according to a person with knowledge of the plan. That property could accommodate more than 1,000 workers and is due to be finished in the third quarter of 2018.
“We continue to evaluate our real estate strategy across Europe so we can support our clients in any scenario,” Jennifer Zuccarelli, a spokeswoman for JPMorgan, said by phone. “As we have said before, we will use the three banks we already have in Frankfurt, Dublin and Luxembourg as our legal anchors.”
Chief Executive Officer Jamie Dimon told U.K. staff before the Brexit vote that as many as 4,000 of them could be relocated if the referendum passed. In January, he said that number could be even higher -- or lower -- depending on how the government’s negotiations play out.