Money

American financial giant announces new state-of-the-art tech base for Glasgow



JPMorgan Chase has today announced plans to move to a new state-of-the-art home in Glasgow coinciding with the company’s 20th anniversary in the city.

The US investment bank will move in to the recently approved 13-storey building to be built on a long-neglected site in Argyle Street, between York Street and Robertson Street.

 

The base in Glasgow’s International Financial Services District will give JPMorgan the capacity to grow with space for up to 2,700 emplyees. It is scheduled to open its doors in 2022.

Confirmation of the move which has been talked about for some time will give another boost to the city and its growing reputation as a host for financial services and technology businesses.

The 270,000 sq ft building will contain large open plan office floors across 13 storeys with the projects being developed by commercial property investor Osborne+Co.

 

The development will be one of the first buildings constructed under a new planning policy CDP 5 on resource efficiency which sets energy efficiency and CO2 emission performance standards and goes further than other UK cities.

The building is targeting BREEAM Excellent certification, the leading sustainability assessment method, in line with JPMorgan Chase’s global commitment to source renewable energy for 100 per cent of its global power needs by 2020.

To achieve this, it will include a number of sustainability-focused 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.

JPMorgan Chase currently employs around 2,000 people in Glasgow and says it is the largest technology employer and recruiter in Scotland.

The city has been home to the firm’s strategic and award winning Technology Centre for 20 years this week.

With a 100 per cent focus on technology, it provides vital software development facilities to the firm and its clients.

Consequently, Glasgow is a key part of the global technology network that services the full range of JPMorgan Chase’s operations.

Lori Beer, global chief information officer, JPMorgan Chase & Co, said: “This investment is just the next step in our unwavering commitment to the city of Glasgow.

 

“We have enjoyed 20 years of success in the city and this has helped build our global reputation of technology innovation for our clients.JPMorgan Chase is proud to have a site as dynamic as Glasgow, which is testament to the expertise and hard work of our employees there.”

Stephen Flaherty, managing director of JPMorgan’s Glasgow Technology Centre, said: “Our new home in Glasgow and our continued investment in jobs, training and development reflects the huge amount of talent available in the city.

“The technology capabilities being developed by our team here are playing a key role in enabling and supporting our customers and communities worldwide.

“Our commitment to Glasgow goes deeper still through the work we do with local schools and universities, as well as our recently announced partnership with the Glasgow Science Centre.”

First Minister Nicola Sturgeon said: “I welcome JPMorgan Chase’s continued investment in Scotland through the building of these new and sustainable Glasgow headquarters.

“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.”



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