The final steel beam for 270 Park Avenue has been lifted into place, marking the topping out of JPMorgan Chase’s 423m skyscraper in Manhattan, designed by UK architect Foster + Partners.

When complete in 2025, the 60-storey skyscraper will act as the bank’s global headquarters, and will be able to accommodate 14,000 employees.

The tower replaces the Union Carbide Building, a 52-floor, 215m-tall building finished in 1960.

The development uses a fan-column structure and triangular bracing that raises it 24m off the ground and creates more public space.

The skyscraper will have net zero operational emissions and will be fully powered by energy sourced from a New York State hydroelectric plant.

Norman Foster said: “In 1811, when this site was countryside, the city commissioners created a masterplan for New York. It was bold, innovative and reflected an optimism for the future. Today, over 200 years later, the same things are true of 270 Park Avenue.

“The building is a great investment in the city, the bank and the wellbeing of the 14,000 people who will occupy it. It does more with less – more public space, fresh air, light and views – and less carbon through green energy.”

Jamie Dimon, JPMorgan Chase’s chairman, said: “JPMorgan Chase is proud to have called New York City home for more than 200 years and this building is a symbol of our long-term investment that will impact future generations of New Yorkers.”