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This
represents a major new international investment project for Scotland.
JPMorgan was one of the first global financial
organisations to locate in Glasgow’s International Financial Services
District when it launched its ETC in 1999.
 Deputy
First Minister, Nicol Stephen welcomed JPMorgan’s plans to further expand
its European Technology Centre (ETC) in Glasgow, with the creation of up to
200 high quality software design and development jobs over the next two
years. This represents a major new international investment project for
Scotland.
JPMorgan was one of the first global financial organisations to locate in
Glasgow’s International Financial Services District when it launched its ETC
in 1999. This centre, which designs and develops complex financial software
and technology systems to support JPMorgan's financial services operations
around the world has grown significantly to become one of the largest IT
employers in Scotland. JPMorgan currently employs 700 highly skilled
technologists in Scotland and in the recent Targeting Innovation awards it
was named as Scottish Software Company of the Year 2006. Today’s
announcement is supported by an offer of a £3 million Regional Selective
Assistance (RSA) grant.
Deputy First Minister Nicol Stephen said; “The creation of these jobs
emphasises the availability of high quality IT professionals in Scotland.
Scotland's universities should take great credit from this decision as
JPMorgan sources most of these high-value positions from Scottish graduates.
It is good to see such productive links being made between major
corporations and our university base in Scotland. This is a further example
of Scotland's potential to attract high quality international jobs in the
financial services sector."
Michael Ashworth, Chief Information Officer, JPMorgan, said: “We are
delighted to announce the creation of 200 jobs at our European Technology
Centre. Glasgow has proved to be a highly successful and key strategic
location for JPMorgan globally, and the ETC provides vital software
development facilities to the bank as a whole.”
Paul Murphy, Chief Executive Officer, JPMorgan Scotland, said: “Our
operations in Glasgow have gone from strength to strength in recent years,
and thanks to the continued support from Scottish Development International
and its parent organisations, The Scottish Executive and Scottish
Enterprise, we have been able to employ some of the most talented, highly
skilled software technologists and engineers in the country. We look forward
to attracting the brightest and most talented people in their field.”
Martin Togneri, Chief Executive of Scottish Development International, which
has worked with the company since before it first came to Glasgow in 1999,
said; “Highly skilled design and development projects such as the one
JPMorgan is announcing today are among the most prized by our competitors
for inward investment, particularly in important and fast growing industries
like financial services. It is a tribute to JPMorgan’s team in Scotland, my
colleagues in SDI, Scottish Enterprise Glasgow and the Scottish Executive,
as well as to the city of Glasgow, that these jobs are coming here and that
we are successfully competing with the best in the world.”
For further information, please contact:
Alexandra Buxton, Media Relations, JPMorgan
Tel: 020 7325 0881
Mobile: 07768 460 077
Email:
alexandra.l.buxton@jpmorgan.com
Stephen Sharp, Senior Media Relations Executive, Scottish Enterprise
Tel: 0141 228 7364
Mobile: 07786 126 629
Email:
stephen.sharp@scotent.co.uk
Notes:
About JP
Morgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm
with assets of $1.3 trillion and operations in more than 50 countries. The
firm is a leader in investment banking, financial services for consumers,
small business and commercial banking, financial transaction processing,
asset and wealth management, and private equity. A component of the Dow
Jones Industrial Average, JPMorgan Chase serves millions of consumers in the
United States and many of the world’s most prominent corporate,
institutional and government clients under its JPMorgan and Chase brands.
Information about the firm is available at
www.jpmorganchase.com
JPMorgan established the European Technology Centre (ETC) in Glasgow, in
1999. From then it has grown to employ approximately 700 highly skilled
technologists, who develop and support banking applications and systems for
JPMorgan globally. The Glasgow operation focuses specifically on the
investment banking and asset management divisions. With a broad spectrum of
technology and financial services companies operating in Scotland, and an
excellent set of universities producing a steady pipeline of talent,
JPMorgan has found the Glasgow location to be a highly successful venture.
For further information, please contact
www.jpmorgan.com/glasgow.
About
Regional Selective Assistance
Regional Selective Assistance (RSA) is the main national scheme of financial
assistance to industry. It provides discretionary grants for investment
projects that will create or safeguard jobs in Assisted Areas – areas
designated for regional aid under European community law. The scheme is
administered by the RSA Scotland unit of the Scottish Executive. Payment of
RSA is made in instalments, typically over several years, provided that job
and project expenditure targets are met. The amount quoted above represent
the maximum grant potentially payable if the project is satisfactorily
completed. Job numbers are based on the firms’ forecast at the time a grant
is offered, and are subject to change depending on future economic
conditions and other factors affecting the business concerned. For further
information on the scheme, go to
www.rsascotland.gov.uk.
About
Scottish Development International
Scottish Development International works to attract inward investment and
knowledge to Scotland in order to help the economy grow. SDI also works to
help Scottish companies do more business overseas and to promote Scotland as
a good place to live, work and do business. It is jointly operated by the
Scottish Executive and Scottish Enterprise. Its work is guided by the global
connections theme of the Scottish Executive's Smart Successful Scotland
strategy for economic development in Scotland.
www.scottishdevelopmentinternational.com
Contact: Andrew Slorance: 0131 244 2672
Internet:
www.scotland.gov.uk
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