Investment in new home
JP Morgan Chase to build Glasgow tech centre for 2,700 staff
New home: JP Morgan’s 13 storey tech centre
JPMorgan Chase has decided to build a new technology base in the heart of Glasgow’s financial district.
The company, which last year began searching for a suitable home to expand, has opted for a site in Argyle Street.
It will give the firm the capacity to increase headcount in the city from 2,000 to 2,700 employees. It is scheduled to open in 2022.
The 270,000 sq ft building will contain large open plan office floors across 13 storeys and the project will be developed by Osborne+Co.
JP Morgan has outgrown its current home
JPMorgan Chase is currently the largest technology employer and recruiter in Scotland. The city has been home to the firm’s strategic technology centre for 20 years this week, providing vital software development facilities to the firm and its clients. Consequently, Glasgow is a key part of the global technology network that services the full range of JPMorgan Chase’s operations.
Lori Beer, the company’s global chief information officer, said: “This investment is just the next step in our unwavering commitment to the city of Glasgow. We have enjoyed 20 years of success in the city and this has helped build our global reputation of technology innovation for our clients. JPMorgan Chase is proud to have a site as dynamic as Glasgow, which is testament to the expertise and hard work of our employees there.”
Since 2017, the firm has committed over £1 million to connect 2,000 people in Glasgow with the skills that they need to qualify for in-demand jobs.
This commitment sends a strong message that even in these uncertain times, we remain open for business– Nicola Sturgeon
Stephen Flaherty, managing director of the Glasgow Technology Centre said: “Our new home in Glasgow and our continued investment in jobs, training and development reflects the huge amount of talent available in the city.
“The technology capabilities being developed by our team here are playing a key role in enabling and supporting our customers and communities worldwide.”
First Minister Nicola Sturgeon said: “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.”
Commenting on behalf of Glasgow’s International Financial Services District (IFSD), Councillor Susan Aitken, leader of Glasgow City Council, said: “JPMorgan Chase’s decision to establish its Technology Centre in Glasgow 20 years ago was an important stage in the development of the IFSD.
“Over the past two decades, the spectacular growth of the firm in Glasgow has mirrored the overall growth of the city’s financial services community and its status as one of Europe’s top financial centres.
“We are hugely encouraged by the impressive scale of JPMorgan Chase’s new Glasgow office which offers significant scope for further expansion of its workforce in the city, creating new jobs for our residents, while regenerating a key city centre site.”
In Glasgow, JPMorgan Chase is currently the largest technology employer and recruiter in Scotland, taking in around 130 interns and 80-90 graduates every year.
JPMorgan Chase also runs a range of programs to boost awareness of technology as a viable career path amongst young people, and to encourage diverse candidates from all different backgrounds and experiences to apply to work for the firm.