Bournemouth, United Kingdom, May 1, 2014 J.P. Morgan announced today that the firm will invest $48 million (£28.6 million) to enhance its Bournemouth Technology & Operations Centre, the firm's operational hub in Europe employing more than 4,000 people.
The investment will transform the infrastructure in the Bournemouth Centre, creating a more vibrant and collaborative workspace. Employees will have access to more state-of-the-art communications technology and office equipment, enabling better interaction with their colleagues in Europe, the United States and Asia. The building's onsite restaurant and common spaces will be revitalised, and facilities will be upgraded for employees who cycle to work. The infrastructure projects will be completed throughout the next three years.
"Bournemouth offers access to high quality talent and to facilities that can support our business, not just in London, but around the world," said Jamie Dimon, Chairman and CEO of JPMorgan Chase. "We are proud to be an active member of the Bournemouth community and to be the largest private sector employer in Dorset."
J.P. Morgan has had offices in Bournemouth for 28 years, supporting client activities in 40 countries around the globe. The new funding builds on the firm's previous $18 million (£10.7 million) investment completed in 2011 to upgrade infrastructure at the site.
"Our employees in Bournemouth are an integral part of the global operations of our firm, and our commitment to continually investing in their work is unquestionable," said Simon Cooper, J.P. Morgan Chief Administrative Office Bournemouth Site Leader. "This commitment is something that those of us who live and work here see every day."
J.P. Morgan has a strong history of community engagement in Bournemouth. The firm's "Supporting our Community" programme provides assistance to 130 local voluntary organisations, charities and schools. Recent strategic philanthropic investments include a £1.1 million investment in education through the "Achieve Together" project, support for economic growth through the "YTKO Get Set for Growth" programme and the creation of opportunities for young people through the Catch 22 Office Apprenticeship Service.
About J.P. Morgan's Corporate & Investment Bank
J.P. Morgan's Corporate & Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $21.1 trillion of assets under custody and $412 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.
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