JPMorgan will seek 500 employees in Latin America
The company intends to carry out these contracts within a period of approximately three years
JPMorgan intends to hire more than 500 people in Latin America in the next three years as it gains market share and takes advantage of the surge in the acquisition financing business.
JPMorgan’s hiring plans for the next three years will focus primarily on its Buenos Aires hub. The 500 new hires will add to the bank’s current 3,850 employees in Chile, Colombia, Peru, Argentina, Brazil and Mexico.
The bank’s executive director for Latin America and Canada, Alfonso Eyzaguirre, explained that these plans to increase the workforce are due to the good performance in the region, where the company had its best year in 2021 for all its business areas, with the exception of fixed income markets.
The bank’s staffing plans include hiring 80 engineers over the next three years for its payments business, which combines cash management, payment solutions and commercial services for corporate clients, financial institutions and Governments.
Consolidation in South America
About 450 of the new hires will be for the hub in Buenos Aires, where JPMorgan already has 2,400 employees serving corporate and investment banking functions globally.
The bank also plans to bring additional asset management products to Latin America, mainly exchange-traded funds, and is signing additional contracts with local distributors and using its own channels.
JPMorgan consolidated its position as the first bank in terms of fees for advice on mergers and acquisitions and for subscription of shares and debt in the region, with 239 million dollars. The region’s total fee pool rose 50% to $2.17 billion, the most since a record $2.68 billion in 2007, according to Dealogic data.
Source: dpa
