US bank JPMorgan Chase is leading its expansion of retail banking in Europe and is hiring hundreds of new employees. Nearly three months after New York City’s Capital House launched a digital platform for its Great Britain subsidiary, Chase, the number of employees is expected to rise to more than 1,000 in 2022, according to the head of JPMorgan’s international private client firm, Sanoke Viswanathan, of the agency. Reuters news agency.
Since entering the UK in September, the workforce has grown by 200 to around 800. “If all goes well, we want to be represented in all major European markets over time,” Viswanathan emphasized.
Europe is but a large-scale beta test of JPMorgan President Jamie Dimon’s considerations of anchoring the massive private client business in the United States around the world through digital offerings. Great Britain was chosen as a starting point because customers there are particularly open to online banking. Viswanathan went on to say that the UK must now add consumer credit, savings and investment products to business. This will require new employees.
How many clients does Chase have now in Great Britain, the head of the bank left open. But he said the numbers exceeded internal expectations and would support expansion plans.
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