He will replace Clive Owen, who is pulling out of the financial thriller due to scheduling difficulties, according to Variety.
The ensemble cast for Cities features Anil Kapoor, Kirsten Dunst and Orlando Bloom.
Shooting on Roger Donaldson's film is expected to begin in London, Mumbai and New York over the next few months.
The movie is said to be set around the time of a record high on the Dow Jones stock market and focuses on a number of characters around the world - including a police officer in Mumbai and a New York hedge fund manager - as their stories become intertwined.
The shooting schedule for Cities conflicts with Cooper's upcoming role in Albert Hughes' action thriller Motor City.
It is unclear whether he will remain on the latter film, which will feature Gary Oldman and Amber Heard.
Cooper will next appear in Abraham Lincoln: Vampire Hunter, which releases on June 22 in the US and August 2 in the UK.