JPMorgan Chase to create thousands of jobs in Poland

JPMorgan Chase, one of the world's largest banks, is opening a new global corporate centre in Warsaw, Poland, and will hire more than 3,000 people in the next three years.

The move, which comes as Brexit negotiations are ongoing, was announced on Tuesday in Warsaw by Steve Cohen, JPMorgan Chase's managing director, and Mateusz Morawiecki, Poland's deputy prime minister and development minister.

The move is the latest example of the attractiveness of Poland to foreign investors given the country's strong economic growth, now at nearly 4% per year, and a labour force that is skilled but still cheaper than in Western Europe.

The development also comes as global businesses seek to shift some operations from Britain to other members of the European Union given the UK's coming departure from the EU single market.

AP