JPMorgan to hire over 3,000 people in new Warsaw operations center

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US bank JPMorgan Chase has plans to hire more than 3,000 people in its new global operations center in Warsaw, the Polish Development Ministry said on Tuesday.

The recruitment will take place over the next three years.

The decision to pick the Polish capital as the site for the new center was announced last Friday by Polish Deputy Prime Minister Mateusz Morawiecki.

In an interview with Polish radio, Morawiecki said the center will employ “several thousand” people, and will deal with risk, data and supply chain management.

Polish Deputy Prime Minister Mateusz Morawiecki. /Xinhua Photo

As the European Union's largest eastern economy, Poland has already established itself as a major offshoring site for banks, thanks to its comparatively low wages and high level of university education.

Poland's business outsourcing centers opened by foreign corporates have added 198,000 jobs in the country, including 32,000 in the 12 months to March, with many of them in the financial industry, according to the Association of Business Service Leaders in Poland.

Poland's business outsourcing centers opened by foreign corporates have contributed to an extra 198,000 jobs in the country, including 32,000 in the 12 months to March. /Reuters Photo

Goldman Sachs already has 300 people working in Warsaw and is seeking 200 people more, while Credit Suisse employs several thousand people in the capital and Wroclaw. UBS has also based large IT and back office administrative operations in the country with 3,000 employees in the southern Polish city of Krakow.

After Britain’s decision to exit the EU, between 35,000 and 45,000 financial services jobs are expected to be moved from all Western countries to Poland. The Polish government is hoping Brexit will provide an opportunity to win more business.

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