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September 17, 2019

JP Morgan to Ramp Up Presence in Glasgow, Build New Technology Offices

"Great confidence in Scotland as a centre of excellence for financial services.”

By CBR Staff Writer

Global investment bank JP Morgan Chase & Co. said today that it plans to build a new “technology home” in Glasgow, with space for 2,700 employees.

The 270,000 sq ft building will be located on Argyle Street in Glasgow’s financial district, and is scheduled to open its doors in 2022.

The decision will give the bank – the largest technology employer and recruiter in Scotland – scope to grow further in the city.

It currently employs 2,000 staff – including over 1,000 software developers – in Glasgow, where it has had a presence for 20 years.

The investment decision, announced today, includes a number of philanthropic commitments: among them, the firm is working with STEM provider Glasgow Science Centre to provide placements for low income youngsters.

Stephen Flaherty, MD of J.P Morgan’s Glasgow Technology Centre said: “The technology capabilities being developed by our team here are playing a key role in enabling and supporting our customers and communities worldwide.”

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First Minister Nicola Sturgeon added: “I welcome JP Morgan Chase’s continued investment in Scotland.With a focus on renewable energy and active travel, the company’s plans are an example to other businesses of how we can move towards a cleaner, greener economy. This commitment sends a strong message that even in these uncertain times, we remain open for business and shows great confidence in Scotland as a centre of excellence for financial services.”

Commenting on behalf of Glasgow’s International Financial Services District, Leader of Glasgow City Council Susan Aitken, said: “The spectacular growth of the firm in Glasgow has mirrored the overall growth of the city’s financial services community and its status as one of Europe’s top financial centres.

“We very much welcome the company’s positive comments and current programs to nurture the talent pipeline emerging from our schools, colleges and universities and look forward to continuing to work closely with them in the years ahead.”

The 270,000 sq ft building will contain large open plan office floors across 13 storeys and the project will be developed by Osborne+Co.

It is targeting BREEAM Excellent certification, the sustainability assessment method, and will include a number of sustainability-focussed features including efficient LED lights, responsibly sourced materials and minimized water consumption. There will be over 350 bicycle spaces but only 12 car parking spaces, the bank said today.

See also: NTT’s $11 Billion Mega-Merger: London Chosen for Global HQ – What Now for Staff, Strategy?

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