US-based investment bank J.P. Morgan on Friday said it will open a new and expanded office in Athens, one aimed to boost its presence in the country and as the host of a new “payments innovation lab”, the latest high-profile multinational announcing a direct investment in previously bailout-plagued Greece.
The development was accompanied by news of the hiring of another 50 professionals for R&D and software engineering from the local market.
“The firm is in active discussions around securing suitable real estate to accommodate this exciting expansion in the country,” a J.P. Morgan statement read.
The payments lab will reportedly focus on support of development of the “Ledger” technology, AI and cryptography used in payment systems.
The global head of JP Morgan Payments, Takis Georgakopoulos, stressed that “We want to stay at the apex of payments innovation, and our new location in Athens will be a key nerve center 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.”
Recruitment for the new Greece-based operation will begin immediately, including for a new head of the division.
J.P. Morgan’s presence in Greece dates back to 1968.
Latest News
AB Vassilopoulos Supermarket Vies for 2nd Place in Greek Market
AB Vassilopoulos hopes its focus on its private label, addition of 2-3 company supermarkets and another 50 franchises will help it surpass LIDL
Greek Youth Struggle Amidst Low Wages and Soaring Expenses
Furthermore, 52.7% of respondents attribute Greece's current significant issues to governmental failure, while another 49.1% anticipate continued economic hardship in the nation's future
S&P Raises Greece Outlook to ‘Positive’; Rating Unchanged
The same international ratings agency in October 2023 raised the country’s creditworthiness to BBB- with a stable outlook
Number of Turkish Visitors to Greek Islands up 10-Fold After 7-Day Express Visa
More than 20,000 Turkish tourists flocked to the eastern Aegean isles during a nine-day religious period in the neighboring country
Greece to Protect 198 ‘Untouchable Beaches’
These beaches, numbering 198 across the country, fall within the Natura 2000 network and will be off-limits for concession and, by extension, for the placement of umbrellas, sunbeds, etc.
BoG: Feb. Current Account Deficit up by 1.8bln
At current prices, exports dropped by 10.3% (‑10.7% at constant prices) and imports grew by 5.7% (9.4% at constant prices).
Greece Becoming a ‘Refuge’ for German Pensioners
The government's policies to attract foreign property buyers to boot the economy is working, reports German newspaper Handelsblatt
Iran Activates Air Defense System- Reports of Attack by Israel
An Iranian official said explosions reported by Iran's media were the result of the activation of the country's air defense system, yet media reports attribute them to a drone attack by Israel
Poll: Greeks, EU Citizens Eager to Vote in European Elections
EU citizens are eager to vote in the upcoming elections for the European Parliament in June, with eight in 10 saying the current geopolitical situation makes voting imperative
Mitsotakis-Erdogan Meeting in Ankara Fixed for May 13
The Greek PM himself made the announcement from Brussels on Thursday, while he also responded to a question on Athens' intent to create a marine park in the central Aegean, an environmental initiative