JPMorgan to build Silicon Valley fintech office [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
JPMorgan to build Silicon Valley fintech office | Reuters 2 Min Read NEW YORK, Oct 19 (Reuters) - JPMorgan Chase & Co said on Friday that it was building a new “fintech campus” in Silicon Valley for more than 1,000 employees, as it pushes to keep abreast of changes in digital payments. The building is set to open in Palo Alto, California in 2020, the bank said in a statement and interviews. Most of the employees at the site will work for JPMorgan’s Chase Merchant Services division, which is the second-biggest U.S. processor of card payments for merchants. The division last year bought WePay, a young Silicon Valley-based firm that specializes in connecting payment software with bank networks. WePay now has about 275 employees, who will move to the new building. WePay’s co-founder Bill Clerico said the bank will also hire hundreds of people for new jobs at the site. This year, JPMorgan made its digital products strategy a major theme of its annual February conference for investors and s
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