JPMorgan Treasury Services Opens Operations Centre in Bydgoszcz, Poland

1 July 2008

JPMorgan Treasury Services today announced that its Global Trade Services business has opened an operations centre in Bydgoszcz, Poland in order to service existing and new clients in Europe, the Middle East and Africa (EMEA).

The operations centre was officially opened by Heidi Miller, chief executive officer of JPMorgan’s Treasury & Securities Services business, and Maciej Grzeskowiak, the Vice Mayor of Bydgoszcz. Polish Chamber of Commerce representatives were also in attendance at the opening ceremony.

The operations centre will provide full back office support for JPMorgan’s trade finance and logistics clients in EMEA. The centre will also help support JPMorgan Treasury Services’ expanding business within Poland.

Alexander Caviezel, EMEA Regional Executive, JPMorgan Treasury Services said: “As we looked to grow our trade finance and logistics businesses in Europe, we needed a dedicated center of excellence from which to service these clients. Bydgoszcz will be an important centre for our global trade business going forward, as well as a gateway for our business into eastern Europe. Opening a centre in Poland is an example of Treasury Services’ strategy of being closer to our clients and servicing them more locally and regionally.”

Konstanty Dombrowicz, Mayor of the City of Bydgosczc, said: "We are very enthusiastic about JPMorgan's investment in Bydgoszcz. The presence of such a significant and world-known financial institution in our city can help increase investment activities in Bydgoszcz. Additionally, it is a great opportunity for our city to become a competitive and valuable business partner for future investors. As we would like to continue providing service for such companies, we have established the Investor Service Unit and so far have received very good references from global companies that would like to invest in Bydgoszcz."

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