US banking giant JP Morgan has unveiled substantial º£½ÇÊÓƵ investment plans as part of efforts to strengthen its domestic presence in the country.
The financial institution revealed it will pump more than £300m into its Bournemouth facility, enabling construction of fresh premises and enhanced amenities for the site's 5,300 staff members, as reported by .
The company – which has maintained operations in Bournemouth since 1986 – stands as Dorset's biggest private sector employer.
Alongside the campus expenditure, JP Morgan confirmed it will contribute £3.5m across the coming five years to South West charitable organisations focused on supporting local young people to improve their career prospects.
Jamie Dimon, the billionaire chairman and chief executive of the bank, said: "Bournemouth has long demonstrated that there is strong financial services and technology talent outside of London, and we're proud to be the largest private employer there."
"Wherever we operate, we believe in making a positive impact, and this long-term investment in a world-class workplace and in local skills development is something the community will truly benefit from."
JP Morgan to back next generation of talent
The facility is estimated to handle approximately 350,000 transactions each day – amounting to more than $1tn.
The campus' managing director, Karine Sweeney, said: "Our success in Bournemouth is down to the great potential of the local workforce.
"That's why we're so heavily invested in the careers of young people in the area – it's the right thing to do but it also makes good business sense to help nurture the available talent of tomorrow."
Dimon was amongst numerous banking sector leaders who held discussions with Chancellor Rachel Reeves prior to last year's Autumn Budget.
The gathering occurred amidst rumours that Reeves might increase the additional levy imposed on banks, which operates alongside corporation tax.
While the surcharge remained unchanged, papers secured by openDemocracy allegedly indicated that Dimon would relocate portions of his operations overseas should the levy be increased.
