JPMorgan to Hire 'Thousands' for Operations Hub in Poland
- Deputy Prime Minister Morawiecki says sealed deal with lender
- Pekao starts hiring Polish bankers from U.K. amid Brexit risks
City skyscrapers stand illuminated at evening on the city skyline in Warsaw, Poland, on Saturday, Feb. 8, 2014. Poland is overhauling regulations governing mortgage-backed securities in a bid to boost issuance and increase bank access to longer-term financing.
Photographer: Bartek Sadowski/BloombergPoland’s government expects JPMorgan Chase & Co. to open an operational center in Warsaw, swelling the ranks of banks attracted by Poland’s lower costs amid competition by European cities for jobs set to move away from London.
The U.S. bank, which is poised to hire “several thousand people,” according to Polish Deputy Prime Minister Mateusz Morawiecki, adds to list of foreign lenders that have been relocating some mid- and back-office positions to the formerly communist European Union member.