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JPMorgan (JPM) to Expand in Poland & Create 2,500 New Jobs
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In a move to significantly expand its operations in Poland, JPMorgan Chase & Co. (JPM - Free Report) is planning to open an operational center in Warsaw, Poland. In relation to this, the bank will likely be creating nearly 2,500 new jobs in Warsaw over the next few years.
This news was disclosed by Poland’s deputy prime minister, Mateusz Morawiecki, in an interview. The company already has presence in the country (a handful of staff mainly offering investment banking services). This new hub will provide services to clients across Europe and Asia.
Why Poland?
As the banks across the globe are trying to move away from the U.K. (owing to Brexit), several countries are trying to take its place. Poland seems to be an attractive destination for financial companies, mainly driven by low costs and highly educated workers. This provides the country an edge over the others.
In the recent years, Poland has established itself as an off-shoring center with roughly 2 million people working in the sector. Several other global banks including Citigroup Inc. (C - Free Report) , UBS Group AG (UBS - Free Report) and Credit Suisse Group AG have considerable presence in the country.
Additionally, owing to uncertainty related to impact of Brexit, many banks are planning to shift bases out of the U.K. So, this provides a chance for Poland to attract financial institutions.
JPMorgan has been striving hard to control expenses and improve efficiency. The bank has been undertaking several measures including digitizing business to manage costs. So, with opening offices in Poland, the company is taking a step in the right direction.
4 Stocks to Watch after the Massive Equifax Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor’s Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
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JPMorgan (JPM) to Expand in Poland & Create 2,500 New Jobs
In a move to significantly expand its operations in Poland, JPMorgan Chase & Co. (JPM - Free Report) is planning to open an operational center in Warsaw, Poland. In relation to this, the bank will likely be creating nearly 2,500 new jobs in Warsaw over the next few years.
This news was disclosed by Poland’s deputy prime minister, Mateusz Morawiecki, in an interview. The company already has presence in the country (a handful of staff mainly offering investment banking services). This new hub will provide services to clients across Europe and Asia.
Why Poland?
As the banks across the globe are trying to move away from the U.K. (owing to Brexit), several countries are trying to take its place. Poland seems to be an attractive destination for financial companies, mainly driven by low costs and highly educated workers. This provides the country an edge over the others.
In the recent years, Poland has established itself as an off-shoring center with roughly 2 million people working in the sector. Several other global banks including Citigroup Inc. (C - Free Report) , UBS Group AG (UBS - Free Report) and Credit Suisse Group AG have considerable presence in the country.
Additionally, owing to uncertainty related to impact of Brexit, many banks are planning to shift bases out of the U.K. So, this provides a chance for Poland to attract financial institutions.
JPMorgan has been striving hard to control expenses and improve efficiency. The bank has been undertaking several measures including digitizing business to manage costs. So, with opening offices in Poland, the company is taking a step in the right direction.
4 Stocks to Watch after the Massive Equifax Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor’s Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
Get the new Investing Guide now>>