JP Morgan adds 6,000 seats to BPO facility in RP

By: Administrator  |   1/7/2009 2:26:46 AM

JP Morgan Chase and Co. is expanding its business process outsourcing (BPO) operations in the country with 6,000 seats next year.

This brings the total number of seats to 8,400 by the end of 2009 from the existing 2,400 seats.

According to Barry Marshall, vice president and senior country operations for global solutions, the additional seats will be located at the Net Plaza in Fort Bonifacio. The acquisition of JP Morgan of American thrift bank Washington Mutual (WaMu), he said, expanded and diversified the services of BPO offices in Manila.

The existing 1,400 seats are located at the company's newly opened BPO center at the Net Quad, also in Fort Bonifacio. The remaining 1,000 seats are already operating in Philamlife Tower in Makati City since 2003.

The country has been servicing JP Morgan Chase's global clientele for the past three years, from simple data entry to complex voice services. Between 2006 and 2007, Marshall said that JP Morgan Chase's BPO operations in the country have grown 300 percent.

Despite the financial crisis and the US recession, Marshall said that there are many opportunities in store for the country, whether captive or outsourced operations.

At present, JP Morgan Chase is the emerging top bank in the United States, and has operated in the Philippines for more than four decades.The company acquired Bear Stearns Companies Inc. as well as the assets of WaMu, which was earlier bought by the US government.



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