Farrell, with multidisciplinary firm DEGW, were chosen last week to design the flagship office development ahead of the three firms shortlisted from an original list of eight.
Bank One, a subsidiary of Delaware-based First USA Bank, has been searching for a suitable site in Cardiff Bay for the project for the past five months.
The new headquarters building will be located on a 1.9 ha waterfront site north of Roath Basin, which is earmarked for business use by the Cardiff Bay Development Corporation.
Roath Basin sits between the Adventurer's Quay housing development and Scott Harbour office development in Cardiff Bay.
Bank One is due to announce the appointment of Terry Farrell and Partners and unveil concept designs for the 25 000 m² office and call centre when it formally announces its launch in the UK in a few weeks' time .
The bank declined to comment on its plans for the project, but it is understood that the appointment of signature architect Farrell is intended to raise its profile in Britain. It already has a small presence in Cardiff.
Although little-known in the UK, Bank One is a major retail bank in the USA. Its office project will feature a major call centre from which the bank will run telephone banking and credit card services.
Terry Farrell and Partners invited DEGW to join its team during the competitive interview process. The move was intended to capitalise on DEGW's extensive experience of call centre design and space planning.
The new building is due to open in 2001 and will also be the headquarters for Bank One's European expansion plans. Farrell's appointment is set to add to Cardiff's burgeoning reputation as a home for new architectural landmarks.
Richard Rogers Partnership was last year picked to design a new Welsh Assembly building in the city, and a new landmark Forte hotel being built by Laing is also close to completion.
The city is also host to the Lobb's Millennium Stadium, and Alsop & Stormer's soon-to-be-completed Barrage project. Plans are also to be unveiled this year for a new home for BBC Wales by Harper Mackay.
