The building will be located on Argyle Street, with space for up to 2,700 employees. It is scheduled to open its doors in 2022.

The 270,000 sq ft building will contain large open plan office floors across 13 storeys and the project will be developed by Osborne+Co. The development will be one of the first buildings constructed under Planning Policy CDP 5 (Resource Efficiency) of the Glasgow City Development Plan, which sets energy efficiency and CO2 emission performance standards and goes further than other British cities.

The building is targeting BREEAM Excellent certification, in line with JPMorgan Chase’s global commitment to source renewable energy for 100 per cent of its global power needs by 2020.

To achieve this, it will include a number of sustainability-focused features including efficient LED lights, responsibly sourced materials and minimized water consumption. There will be over 350 bicycle spaces but only 12 car parking spaces.

JPMorgan Chase currently employs around 2,000 people in Glasgow and is the largest technology employer and recruiter in Scotland.

Lori Beer, global chief information officer at JPMorgan Chase & Co, said: “This investment is just the next step in our unwavering commitment to the city of Glasgow. We have enjoyed 20 years of success in the city and this has helped build our global reputation of technology innovation for our clients.

“JPMorgan Chase is proud to have a site as dynamic as Glasgow, which is testament to the expertise and hard work of our employees there.”