The US investment bank Goldman Sachs is looking to hire about 250 employees in Poland in 2018, while the British financial institution Standard Chartered views the country as a possible new center for about 500 employees. Poland, which is the largest country in the eastern wing of the European Union (EU), has seen significant economic growth over the past decade. This, along with low labor costs, makes it an attractive destination for international companies and other banks.
Goldman Sachs will significantly increase its staff in Poland to 750-800 from the current 525, revealed the spokeswoman for the investment bank. The new jobs will be in the areas of operations and technology, risk management, financial markets and human resources – basically back-office roles.
British financial institution Standard Chartered said they were looking for expansion opportunities in Eastern Europe to create a new office. The possible cities are Warsaw and Krakow in Poland, or Prague and Czech Republic and Budapest in Hungary. The bank is expected to make a final decision on the location of its new office in the first quarter of 2018.
In September, Poland announced that the US bank JPMorgan Chase plans to hire more than 3,000 people for its new global operations center in Warsaw.
Earlier it was announced that Goldman Sachs is expected to sign an office lease in Milan, which will boost creditor presence in Italy.
Other major international banks are also expected to look for new offices in different European cities after meeting Brexit talks.