Scotland business

JPMorgan Chase to build new technology base in Glasgow

CGI of JPMorgan Chase's planned new technology centre in Glasgow Image copyright JP Morgan Chase
Image caption The 270,000 sq ft building will house the company's existing 2,000 tech staff in Glasgow

US financial services giant JPMorgan Chase has unveiled plans to build a new multi-million pound base for its technology operations in Glasgow.

Planning permission has been granted for a 270,000 sq ft building in the heart of Glasgow's International Financial Services District (IFSD).

It will house about 2,000 technology specialists currently spread between two other locations in the city.

The 13-storey building in Argyle Street is scheduled to open its doors in 2022.

Construction is expected to start in the first quarter of next year.

JPMorgan Chase said the development would include "sustainability-focused features" including energy-efficient lighting, "minimised water consumption" and more than 350 bicycle spaces.

It added that the move would give the company the "capacity to further grow" in Glasgow, with space available for up to 2,700 employees.

'Unwavering commitment'

The announcement comes almost exactly 20 years since the firm established its Glasgow tech centre, which provides software development as well as data science and cloud engineering services for JPMorgan Chase's global operations.

In a statement, the company said the investment in the new building was "just the next step in our unwavering commitment to the city of Glasgow".

Reacting to the plans, First Minister Nicola Sturgeon said: "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."

Glasgow City Council leader Susan Aitken also welcomed the announcement.

She said: "We are hugely encouraged by the impressive scale of JPMorgan Chase's new Glasgow office which offers significant scope for further expansion of its workforce in the city, creating new jobs for our residents, while regenerating a key city centre site."

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