JP Morgan Chase sets up captive centre in Bangalore

JP Morgan Chase sets up captive centre in Bangalore
Business Standard

JP Morgan Chase, global financial services firm with assets of $1.1 trillion, has picked up a 1.2 lakh square feet of office space in Bangalore. It is expected to open on today (Tuesday).

The company is said to be setting up a large financial back office in the city in addition to its existing offices in Mumbai.

The financial major is among the top global firms in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity.

According to market sources, CB Richard Ellis was instrumental in facilitating the deal. JP Morgan in Bangalore will be housed at Prestige Tech Park on the Outer Ring Road. The facility is expandable to 3.5 lakh sqft in the future.

The entry of JP Morgan in Bangalore comes on the heels of another global financial power house Goldman Sachs setting up its capitive software and financial support operations in the city.