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JP Morgan commits to London

US investment bank to relocate 11,000 investment bankers to Lehman Brothers' former Canary Wharf headquarters by 2012

JP Morgan has confirmed its commitment to the UK with the completion of a deal that will see the US investment bank move into Lehman Brothers' former European headquarters, putting paid to speculation that it wanted to scale back its London operations.

The US investment bank confirmed this morning that it had bought 25 Bank Street from the Canary Wharf Group for £495m.

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