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JPMorgan to hire thousands for mid-, back-office jobs in Warsaw

International banks are taking advantage of lower costs in the formerly communist EU member

Gulf News

Warsaw: Poland has sealed a deal with JPMorgan Chase & Co to open an operational headquarters in Warsaw, Deputy Prime Minister Mateusz Morawiecki said.

The US bank, which is set to hire “several thousand people,” according to Morawiecki, joins a list of foreign lenders relocating some mid- and back-office positions to Poland. International banks are taking advantage of lower costs in the formerly communist European Union member, especially amid uncertainty over the UK’s relative allure following Brexit.

“We’ve been in difficult talks for several months but I can confirm that the deal is done,” Morawiecki told public radio Trojka on Friday. “The world’s largest bank will have a headquarters here and will hire several thousand people in management, risk management and logistics, which is good as these are well paid jobs.”

UBS Group AG has set up a global hub in Krakow, while Goldman Sachs, which is planning to halve its London staff to 3,000 workers, will expand in Warsaw to “several hundred” people over the next three years, Handelsblatt has reported. Morawiecki said this year that Brexit could bring as many as 30,000 business service-sector jobs to Poland.

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