We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JPM to Boost Middle East Presence With Hiring of More Than 100 Staff
Read MoreHide Full Article
JPMorgan Chase & Co. (JPM - Free Report) is expanding its Middle East presence with plans to hire more than 100 staff to its businesses across the region in the coming years.
The announcement was made by Mary Callahan Erdoes, CEO of JPMorgan’s asset and wealth management business, at the Qatar Economic Forum in Doha. “It is a very exciting time for everybody to be thinking about this”, Erdoes stated.
Details of JPM’s Expansion in the Middle East
JPMorgan currently operates across the Middle East region, including Abu Dhabi, Doha, Dubai and Riyadh. JPM’s new hirings will increase its regional workforce from 370 to nearly 500 in the upcoming years, further strengthening its foothold. This move will enhance its ability to provide expanded financial services in the region.
Similar to JPM, many other finance companies have been expanding their footprint across the Middle East, where many countries are undergoing multibillion-dollar investment programs aimed at remaking their economies and becoming less dependent on oil.
In sync with this, on May 20, 2025, Bloomberg reported that Goldman Sachs (GS - Free Report) is also boosting its Middle East headcount and exploring new office locations, joining other banks expanding in the region to tap its pools of capital.
At the Qatar Economic Forum in Doha, Marc Nachmann, Goldman’s global head of asset and wealth management, stated, “The Middle East provides attractive risk/return opportunities.” The company continues to work with regional sovereign wealth funds on investment partnerships and expects to pursue further opportunities.
Likewise, The Bank of New York Mellon (BK - Free Report) , or BNY Mellon, has secured a license from the Ministry of Investments to establish its regional headquarters in Saudi Arabia this month.
The strategic expansion of BK into Saudi Arabia aligns with Vision 2030, which mandates foreign firms to establish regional headquarters in the kingdom for accessing government contracts.
JPM’s Other Expansion Efforts
JPMorgan is making efforts to expand its footprint in new regions with plans to open more than 500 new branches by 2027, with 150 already built in 2024, solidifying its position as the largest branch network in the US, covering all 48 states. Additionally, the bank is committed to renovating 1,700 existing locations by 2027 to enhance customer service and accessibility.
JPM’s Zacks Rank & Price Performance
In the last six months, shares of JPM have gained 8.2% compared with the industry’s 3.9% growth.
Image: Bigstock
JPM to Boost Middle East Presence With Hiring of More Than 100 Staff
JPMorgan Chase & Co. (JPM - Free Report) is expanding its Middle East presence with plans to hire more than 100 staff to its businesses across the region in the coming years.
The announcement was made by Mary Callahan Erdoes, CEO of JPMorgan’s asset and wealth management business, at the Qatar Economic Forum in Doha. “It is a very exciting time for everybody to be thinking about this”, Erdoes stated.
Details of JPM’s Expansion in the Middle East
JPMorgan currently operates across the Middle East region, including Abu Dhabi, Doha, Dubai and Riyadh. JPM’s new hirings will increase its regional workforce from 370 to nearly 500 in the upcoming years, further strengthening its foothold. This move will enhance its ability to provide expanded financial services in the region.
Similar to JPM, many other finance companies have been expanding their footprint across the Middle East, where many countries are undergoing multibillion-dollar investment programs aimed at remaking their economies and becoming less dependent on oil.
In sync with this, on May 20, 2025, Bloomberg reported that Goldman Sachs (GS - Free Report) is also boosting its Middle East headcount and exploring new office locations, joining other banks expanding in the region to tap its pools of capital.
At the Qatar Economic Forum in Doha, Marc Nachmann, Goldman’s global head of asset and wealth management, stated, “The Middle East provides attractive risk/return opportunities.” The company continues to work with regional sovereign wealth funds on investment partnerships and expects to pursue further opportunities.
Likewise, The Bank of New York Mellon (BK - Free Report) , or BNY Mellon, has secured a license from the Ministry of Investments to establish its regional headquarters in Saudi Arabia this month.
The strategic expansion of BK into Saudi Arabia aligns with Vision 2030, which mandates foreign firms to establish regional headquarters in the kingdom for accessing government contracts.
JPM’s Other Expansion Efforts
JPMorgan is making efforts to expand its footprint in new regions with plans to open more than 500 new branches by 2027, with 150 already built in 2024, solidifying its position as the largest branch network in the US, covering all 48 states. Additionally, the bank is committed to renovating 1,700 existing locations by 2027 to enhance customer service and accessibility.
JPM’s Zacks Rank & Price Performance
In the last six months, shares of JPM have gained 8.2% compared with the industry’s 3.9% growth.
Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.