CEO Jamie Dimon stated that the opening of the new headquarters is a significant investment in New York City. The bank contributes $42 billion annually to the city’s economy, the firm said.
“Don’t bet against New York City, don’t bet against our financial services sector,” said New York State Governor Kathy Hochul.
The tower has capacity for 10,000 workers and will serve as a model for the company’s future offices around the world, said David Arena, head of global corporate real estate at the largest American lender.
“We have tried to prepare the building for the future,” Arena said.
The new Park Avenue headquarters will have biometric access and an app that will allow employees to order food and reserve meeting rooms. It will also have a drone port for package delivery.
The new skyscraper’s amenities include a Michelin-starred vegan restaurant, a cafe serving protein shakes from an Airstream trailer, and an English-style pub. The tower has 50% more hospitality space than any previous JPMorgan property, Arena said.
(Eduardo Munoz/REUTERS)
In the last five years, the bank has modernized 125,000 jobs at its various headquarters in Bengaluru, Tokyo, Paris and Mexico City, and plans 75,000 more in the next five years.
Dimon has been a prominent advocate for working from the office instead of at home. The new headquarters, which includes renovated jobs, aims to attract and retain talent.
“We think of the building as a recruiting tool,” Arena said. “A workplace has to be a destination, it has to be travel-friendly. It has to offer an elevated experience to employees, customers and visitors.”
About 97% of the material from the old bank building, which was on the same site, was recycled. The new structure was built with sustainability in mind, including the use of recycled metals and other materials.
JPMorgan is one of New York City’s largest employers. Construction of the headquarters required 8,000 workers and contributed $2.6 billion to the city’s economy, the bank stated last year.
The completion of the building is an important milestone for Dimon, the longest-serving leader of the country’s largest banks. The 69-year-old CEO was deeply involved in the details of the project, according to Arena.
Earlier this year, Dimon said JPMorgan’s succession plans remain unchanged, reiterating his intention to step down within five years, without giving a more specific timeline.
