Two major US banks have confirmed large-scale UK expansion efforts, a move that follows the government’s decision not to impose new taxes on financial institutions in its autumn budget. The announcements highlight renewed momentum within the country’s financial sector.
JP Morgan confirmed plans to build a 3m sq ft headquarters tower in Canary Wharf, a project valued at roughly £3bn. The development will become the bank’s central hub in the UK, supporting thousands of employees and generating nearly £10bn in economic activity.
Goldman Sachs announced a significant expansion of its Birmingham office, with 500 new roles planned. The hiring surge is part of the company’s broader commitment to technology and AI-driven financial operations.
The banking industry narrowly avoided a tax increase after sustained lobbying efforts aimed at preserving lending capacity. Reports noted that the Treasury sought supportive commentary from banks as part of the final decision.
Government officials said the announcements demonstrate growing confidence in the UK’s policy direction and economic potential. They added that long-term investments of this scale will support regional development and modernise Britain’s financial infrastructure.