05:17 AM EST, 11/18/2024 (MT Newswires) -- (Updates with JPMorgan's ( JPM ) response in the sixth paragraph.)

JPMorgan Chase ( JPM ) is exploring options for its European headquarters in London's Canary Wharf financial district, Reuters reported Friday, citing three unnamed people familiar with the plan.

The Wall Street bank has started mulling plans for where to adjust its roughly 12,000 employees in London, with a decision expected to be made sometime after US staff move into their new global HQ in New York in 2025, the report added, citing the sources.

JPMorgan's ( JPM ) existing 33-storey tower at London's Bank Street is fully occupied, the report said, citing one of the sources.

The bank is currently assessing three options: upgrading 25 Bank Street, constructing a new tower in Canary Wharf on land it already owns, or relocating to central London, the sources told Reuters.

JPMorgan ( JPM ) has not taken any decision yet and the move may take years to execute, the report quoted sources as saying.

JPMorgan ( JPM ) declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)