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JPMorgan set to almost double India workforce

JPMorgan set to almost double India workforce

(28 March 2006 – India) JPMorgan Chase’s chief executive Jamie Dimon has said the bank will add another 4,000 staff to its workforce in India, pushing the overall total up to about 9,000. The bank is also on the acquisition path in China and will boost its staff in the Philippines by another 750.

Dimon said JPMorgan was "optimistic" about China’s banking markets.

Globally, JPMorgan has some 170,000 employees and is now the third largest bank in the US after it bought Bank One in early 2004 for US$58 billion.

Dimon said JPMorgan would be considering 40 or so companies for acquisition at any one time, with most of these being in the US, but that the bank’s strategy in 2006 was to grow its staff and distribution capabilities organically.

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