The 270,000 sq ft building will be located on Argyle Street in the heart of the city’s International Finance District.

Construction is expected to start early next year with completion scheduled for 2022.

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 UK cities.

The building is targeting BREEAM Excellent certification and will include sustainability-focussed features including efficient LED lights, responsibly sourced materials and minimised water consumption.

First Minister Nicola Sturgeon said: “I welcome JPMorgan Chase’s continued investment in Scotland through the building of these new and sustainable Glasgow headquarters.

“With a focus on renewable energy and active travel, the company’s plans are an example to other businesses of how we can move towards a cleaner, greener economy.

“This commitment sends a strong message that even in these uncertain times, we remain open for business and shows great confidence in Scotland as a centre of excellence for financial services.”