JPMorgan Chase & Co. will increase its Middle East operations with the recruitment of 100 new staff, as part of a larger expansion plan within the region. The expansion will raise the bank’s regional employees to 500 from 370 currently, said Mary Callahan Erdoes, CEO of JPMorgan Asset & Wealth Management.
In a recent financial summit, Erdoes spoke about the region’s increasing strategic significance on the global financial stage. “We are seeing great opportunities throughout the GCC, and we want to be more positioned to serve our clients,” she said.
JPMorgan’s growth mirrors the overall trend of global finance institutions boosting investment in the Middle East due to economic diversification initiatives, sovereign wealth deals, and the rise in capital markets. The UAE and Saudi Arabia are among the most prominent markets where recruitment is likely to be focused.
The additions will be across investment banking, asset management, technology, and risk jobs. With the ramp-up, JPMorgan will look to enhance local client coverage, facilitate cross-border transactions, and reinforce its competitive advantage in the region’s fast-changing financial landscape.
