NEW YORK J.P. Morgan Chase & Co., in the last stages of its move from 60 Wall St. to Park Avenue, announced Wednesday that Deutsche Bank AG is buying the headquarters of the former J.P. Morgan & Co. for an undisclosed amount.
J.P. Morgan Chase will turn over the 47-story office tower, built just 13 years ago, to Deutsche Bank in November. Its remaining research and investment banking staff there will move to the Park Avenue offices starting in August.
Deutsche Bank, which has been building steadily in the United States since it bought Bankers Trust Corp. two years ago, will have four offices in the New York area after buying the Wall Street building.
It said it hopes to consolidate all its operations at 60 Wall within the next three years.