J.P. Morgan Increases Presence in Athens

J.P. Morgan, a major US investment bank, revealed on Friday that a new office for a Payments Innovation Lab would be opened in Athens, Greece.

The Lab will work with Onyx, a division of JP Morgan that uses cutting-edge technologies like blockchain, to conduct research and development for the bank's global payments.

For payments research and development, the business will assemble a 50-person local team that will include product and engineering specialists.

Employees from the current Athens offices of JPMorgan's corporate, investment banking, asset, and wealth management divisions will also move to the new location.

Takis Georgakopoulos, Global Head of J.P. Morgan Payments, stated: "We want to stay at the apex of payments innovation, and our new location in Athens will be a key nerve centre for our cutting-edge payments innovation work."

"The firm has a track record of establishing successful tech centers that benefit from the renowned technology and engineering skills of people locally, and this exciting expansion brings that strategy to Greece in the payments space."

According to Stelios Papadopoulos, Senior Country Officer for J.P. Morgan in Greece, the investment demonstrates the firm's dedication to the country.

"Our investment in a new office and local, highly skilled talent is a testament to J.P. Morgan’s long-term commitment to Greece. We are looking forward to growing our franchise in this market and to continue serving local and international clients from this new home."

Since opening offices in Piraeus and Athens in 1968, J.P. Morgan has had a presence in Greece.

The bank has been in business in Europe for about 200 years and is well-known on local markets in the region as well as in the Middle East and Africa. A regional footprint with offices in all of the major financial centers complements the regional head office in London.

By fLEXI tEAM