After months of speculation, JPMorgan Chase & Co. looks set to move into Lehman Brothers' old building in London's Canary Wharf development rather than build its own new and larger premises in the city's modern financial district.
Barring any last-minute change, the banking company is ready to adopt that option, which would allow the consolidation of some 10,000 investment banking employees now scattered among different London sites into the property at 25 Bank St., a person familiar with the situation said Wednesday.
The move would put an end to talk that the bank might move its European headquarters away from London to avoid regulatory or tax constraints after the financial crisis.
