J.P. Morgan today announces plans for a new office in Athens, Greece, to support the organic growth of its businesses in the country. The office will also house a new Payments Innovation Lab for which the firm will be hiring a payments research and development team locally.
J.P. Morgan intends to initially hire around 50 employees to the Payments Innovation Lab, including payments product and engineering specialists. J.P. Morgan’s employees already based in Athens, who work across the Corporate & Investment Bank and Asset & Wealth Management businesses, will also move to the new office. The firm is in active discussions around securing suitable real estate to accommodate this exciting expansion in the country.
The Payments Innovation Lab will provide research and development to the Payments business globally, including working with Onyx by J.P. Morgan. Onyx is J.P. Morgan’s business unit that leverages cutting-edge technologies such as blockchain to develop innovative financial services products, platforms and marketplaces for the firm and its clients. From the outset, the centre will concentrate on supporting the development of solutions around distributed ledger technology, artificial intelligence and cryptography related to payments systems.
Takis Georgakopoulos, Global Head of J.P. Morgan Payments, said: “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 centres 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.”
Recruitment for the Payments Innovation Lab will begin immediately, including for a head of the division, which will be announced in the coming months.
Stelios Papadopoulos, Senior Country Officer for J.P. Morgan in Greece, said: “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.”
J.P. Morgan’s presence in Greece dates back to 1968, when we opened offices in Piraeus and Athens. We now offer our Greek clients products and services from across our investment banking, payments and asset & wealth management businesses.
Source: Company Press Release