JP Morgan expands in Frankfurt

Bloomberg Frankfurt – JPMorgan plans to significantly increase Germany’s workforce. The Wall Street giant recently merged several previously independent European units in Frankfurt.

Germany’s workforce is expected to grow by up to a quarter this year, in all areas — from asset management to private banking and commercial banking to investment banking, Germany’s President Stefan Bauvali told Bloomberg in an interview. The bank in Frankfurt has already significantly increased its headcount in the past year. The number of employees has increased by about 15% to more than 600. Povaly expects about 700 colleagues in the German financial capital by the end of this year. “Some of the growth last year and this year is due to intra-bank relocations, colleagues moving from London to Frankfurt, for example,” Buffali says. “In addition, we are also creating completely new jobs in Frankfurt.”

Searching for applicants is not always easy. “One of the reasons for this is the desire of many banks to consolidate their position in Frankfurt after Brexit,” Bovali explains. “We are also competing with other industries – such as technology and fintech – for the best talent.”

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