JPMorgan to move 2,000 employees to offices in Brooklyn

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JPMorgan is moving about 2,000 employees to offices in Brooklyn’s MetroTech Center after a review of its real estate holdings, said a person with direct knowledge of the plan.

Bloomberg reports that the biggest single source of employees heading to Brooklyn by year-end is 1 Chase Manhattan Plaza, the 60-story lower Manhattan skyscraper the bank sold to Shanghai-based Fosun International in 2013, said the person, who asked not to be identified because the move isn’t public. The employees are from several of the bank’s business lines, the person said.

JPMorgan is consolidating its real estate as it pushes to trim expenses and simplify itself by exiting businesses including student lending and private equity. Offices in and near downtown Brooklyn, where MetroTech Center is located, are among the most in demand in the city, in particular drawing young technology and social-media companies.

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JPMorgan Said to Plan Move of 2,000 workers to Brooklyn

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