JPMorgan Takes More Space in China’s Tallest Skyscraper With Growing Headcount
- JPMorgan, Nomura are expanding their office space in Shanghai
- China is allowing greater competition from international firms
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JPMorgan Chase & Co. and Nomura Holdings Inc. are taking extra office space in China with both increasing headcount in the nation as it opens its $45 trillion financial industry to more competition.
New York-headquartered JPMorgan boosted its space in Shanghai Tower, China’s tallest skyscraper, to 20,000 square meters (215,300 square feet) from 15,000 square meters, according to people familiar with the matter. Nomura, Japan’s biggest brokerage, nearly doubled the size of its lease to around 5,000 square meters, the people said, asking not to be identified because the details aren’t public.