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JPMorgan Chase Opens the Doors of Its New Glasgow Office – Company Announcement

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7 months ago

April 23, 2024

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JPMorgan Chase Opens the Doors of Its New Glasgow Office – Company Announcement

Firm is a significant employer in Glasgow with 2,600 employees in the city, and 4,000 in Scotland overall

The building created 3,900 local construction jobs over the past five years

New office shows a new long term commitment to the city, and reflects wider investments in Scotland where the firm has committed £2.9 million in philanthropic capital over five years

GLASGOW, Scotland–(BUSINESS WIRE)–Apr. 23, 2024–
JPMorgan Chase will today welcome employees and guests to a ribbon-cutting ceremony at its new state-of-the-art technology home in Glasgow. The building is located on Argyle Street in the heart of Glasgow’s International Finance District, and will bring employees together in one modern building after the firm had outgrown its previous premises.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423348674/en/

J.P. Morgan Glasgow Technology Centre (Photo: Business Wire)

The 270,000 square foot building is designed to adapt to the future of work and provide a world-class experience for employees with large open floors and modern amenities across 14 storeys. The building project employed 3,900 construction workers and took five years to build. It is certified as having a BREEAM ‘Excellent’ certification, the leading sustainability assessment method, in line with JPMorgan Chase’s global commitment to sourcing renewable energy for 100% of its global power needs.

JPMorgan Chase currently employs 2,600 people in Glasgow and is one of the largest technology employers and recruiters in Scotland. The city has been home to the firm’s strategic and award-winning Technology Centre for 25 years. With a 100% focus on technology, it provides vital software development facilities to the firm and its clients worldwide. Glasgow is one of the firm’s 23 Global Technology Centres, which serve as centres of excellence to build and support the innovative technology behind JPMorgan Chase’s world-class businesses.

Lori Beer, Global Chief Information Officer at JPMorgan Chase said: “We have been among Glasgow’s top technology employers for 25 years now, and this is a deliberate long-term investment in the city and our employees. Time after time, Glasgow has proved itself to be a rich hub of tech talent and innovation, and today we are doubling down on being a part of the local community here.”

First Minister of Scotland, Humza Yousaf said: “The opening of JPMorgan Chase’s new Glasgow office is an exciting moment for the financial services and technology sectors in Scotland. JPMorgan Chase is one of the country’s largest technology employers, and this renewed commitment to the city acknowledges Scotland’s skilled workforce and our reputation as a centre of excellence for finance and technology.”

Scottish Enterprise Chief Executive, Adrian Gillespiesaid: “JPMorgan Chase are to be congratulated on the opening of their fantastic new building, which stands as a testament to the success the company has enjoyed since coming to Glasgow 25 years ago, now employing 2,600 people in the city.

“Scottish Enterprise worked with JPMC to locate in Glasgow initially, and that office was crucial to the development of the city’s International Financial Services District. This further investment in Scotland is a real endorsement of our diverse and highly skilled technology workforce – just one of the reasons we continue to attract more international investment than any other part of the U.K. outside of London.”

Mark Napier, Managing Director of JPMorgan Chase’s Glasgow Technology Centre added: “We purposefully designed the Argyle Street building to make it one of the best working environments in Glasgow. I’m excited to see how the modern and collaborative space we have created will drive our business forward.”

Sustainable Design

In addition to its BREEAM Excellent certification, the Argyle Street building has a ‘Gold’ rating according to the WELL standard, owing to its management of lighting, water, air quality and noise reduction.

The building has photovoltaic solar panels that generate over 90 kW of power, which help offset carbon dioxide emissions and reduce demand from the power grid.

It uses a first of its kind heating and cooling system, where air-sourced heat pumps create both heating and cooling within a single process, and where excess energy is re-used in the system to increase overall efficiency. The building’s low-consumption LED lighting adapts dynamically to provide the exact amount of lighting needed during the day, and it automatically adjusts according to occupancy levels. It also features electric vehicle charging stations and bicycle racks for more than 270 people to help reduce carbon emissions produced from the daily commute.

Modern workplace prioritising employee well-being

The new building is designed to adapt to the future of work and foster teamwork and collaboration. It features experiential meeting spaces, including modern conference rooms, work cafés and games rooms. The lay-out of collaboration space is entirely configurable, with several spaces equipped with touch-screens for agile working. The dining areas feature diverse cuisine offerings and outdoor seating for employees to gather and socialise.

Employees also have access to best-in-class wellness experiences. From natural lighting to biophilic design, dedicated spaces are carefully configured for relaxation and rejuvenation. To support employees’ physical and emotional well-being, the building also features amenities such as a wellness studio for exercise, and nursing and mindfulness rooms.

Serving Glasgow and Scotland

Over the last five years, JPMorgan Chase has committed £2.9 million in philanthropic capital to support communities across Scotland. The firm’s support helps businesses of all sizes grow and succeed, families build strong financial futures and prepares young people for future job opportunities. Across Scotland, JPMorgan Chase supports high-growth businesses in industries like disruptive technology, life sciences, and green tech and is supporting renewable and alternative energy efforts through banking companies that produce solar power and offshore wind.

In Glasgow, JPMorgan Chase continues to actively recruit locally, taking in over 75 graduates every year. The firm is passionate about developing strong links with schools, universities and community organisations across the city, which has helped it become a top employer among female technologists and historically underrepresented groups in technology. This strengthens the firm’s ambition to be a ‘non-traditional’ technology organisation.

The bank runs a number of initiatives to encourage young people to choose computer science or STEM-based pathways. Its Tech for Social Good programme does this particularly for under-represented children between the ages of 5-18 and, as part of that, the related GenerationTech programme very specifically focuses on closing the gender gap in computer science among teenagers. Events involve leveraging technology to solve a social challenge with the help and guidance of JPMorgan Chase’s technologists. Many of the young women who have participated in GenerationTech have joined the firm as graduate level apprentices.

The firm also works closely with a number of community organisations operating in Glasgow including: dressCode and SmartSTEMS – organisations who all focus on encouraging the development of technology related skills among young people from all backgrounds through activities and mentorship. Together with non-profit partner, The Prince’s Trust, over the next three years, JPMorgan Chase will help 530 young people between the ages of 16-30 – who are currently facing barriers to the job market – access work in the construction, health and social care and engineering.

Elsewhere in Scotland, JPMorgan Chase is a significant employer in Edinburgh, where the firm has 1,400 employees, taking the total employees in the country to 4,000. Businesses operating there include the firm’s Private Bank, Payments and post-trade Securities Services. Edinburgh is also home to the customer contact centre of the firm’s award-winning digital retail bank, Chase. Chase is the Official Banking Partner of the Scottish national football teams, while J.P. Morgan is a leading Commercial Partner to Glasgow City Football Club, the professional women’s team based in the city.

About JPMorgan Chase

JPMorgan Chase (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.

With over 63,000 technologists globally and an annual tech spend of more than $15 billion, JPMorgan Chase is dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products.

Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase is available at www.jpmorganchase.com.

JPMorgan Chase in the U.K.

With a legacy dating back to 1799, JPMorgan Chase has a track record of demonstrating leadership during times of both economic growth and financial instability. The firm employs approximately 22,000 employees throughout the U.K. and is committed to operating a healthy and vibrant company that plays a leading role in advancing a sustainable and inclusive economy. JPMorgan Chase works every day to apply its unique expertise, insights, and resources to help address economic and societal challenges facing its clients, employees, and communities.

The firm’s digital bank, Chase, was recently named the Official Banking Partner of the Home Nations football teams, including Scotland. The partnership supports individuals across the U.K. from low income backgrounds – providing them access to fully funded coaching qualifications and free learning tools, helping to develop transferable skills for life on and off the football pitch. Chase is also working to help young people in schools with its National Literacy Trust and Penguin Books partnership. In its third year, the partnership has so far helped more than 107,000 children from underserved communities across the U.K. with improved access to books and libraries.

Chase was named Best British Bank, Best Current Account, and Best Savings Account, at the 2023 British Bank Awards. It was also named Consumers’ Choice at the Moneyfacts Consumer Awards 2024.