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J.P Morgan Expands Presence in Athens, Greece

J.P. Morgan Athens Greece
J.P. Morgan opens a new office in Athens, Greece. Credit: Thomas Hawk, CC BY-NC 2.0/Flickr

US investment banking giant J.P Morgan announced on Friday it was setting up a new office in Athens, Greece for a Payments Innovation Lab.

The Lab will provide research and development to the bank’s global payments business, including working with Onyx, JP Morgan’s business unit that leverages cutting-edge technologies like blockchain.

The company will hire a 50-person local team for payments research and development, including product and engineering experts.

Workers from JPMorgan’s corporate, investment banking, asset, and wealth management divisions who are now headquartered in Athens will also relocate to the new office.

J.P. Morgan’s Athens Lab a center for payments innovation work

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 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.”

Stelios Papadopoulos, Senior Country Officer for J.P. Morgan in Greece, said that the investment shows the company’s commitment to Greece.

“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 presence in Greece dates back to 1968 when it opened offices in Piraeus and Athens.

The bank has operated in Europe for nearly 200 years and has a local market presence across Europe, the Middle East and Africa. The regional head office in London is complemented by a regional footprint, with offices in all major financial centers.

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