First Comes Dimon’s New Tower. Next Up, a JPMorgan Neighborhood

Описание: JPMorgan Chase & Co.’s new megatower in Midtown Manhattan will officially open in October, capping one of the most expensive construction projects in New York history. But when Jamie Dimon, the bank’s billionaire chief executive, cuts the ribbon at 270 Park Ave., he’ll inaugurate something even more ambitious. Inside America’s biggest city, its biggest bank has been piecing together its own multi-block campus — JPMorgan’s own neighborhood. The bank will pump about $1 billion into renovating the old Bear Stearns offices across the street at 383 Madison Ave., JPMorgan’s temporary headquarters in recent years. A block over, the lender also owns 250 Park, which may become a hotel for colleagues. Add in nearby leased space, and the bank has nearly 6 million square feet of office space in the span of a few blocks — almost as much as rival Goldman Sachs Group Inc. has in all of North and South America. Bloomberg News Americas Finance Team Leader Sally Bakewell and Hannah Levitt, Bloomberg News JPMorgan Chase and Morgan Stanley reporter, join Bloomberg Businessweek Daily to discuss. They speak with Norah Mulinda and Kristine Aquino. Bakewell also previews big bank earnings kicking off October 14th.
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