JPMorgan to open new base in Warsaw for ‘several thousand’ staff

JPMorgan has reached a deal with Poland to open a global operations centre in Warsaw, Poland’s finance minister said on Friday, Financial Times reports.

In an interview with Polish radio, Mateusz Morawiecki said that the centre would employee “several thousand” staff, and deal with risk, data and supply chain management.

In recent years, Poland has established itself as a major offshoring hub, thanks to its comparatively low wages and high level of university education, with more than 200,000 people working in the sector.

Of these, 50,000 work for international banks, and the Polish government hopes Brexit will provide an opportunity to win more business.

Switzerland’s UBS already employs 3,000 in the southern Polish city of Krakow, Credit Suisse has 4,000 staff in the western city of Wroclaw, while US group Citi employs 5,000 in Warsaw.

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