JPMorgan Chase & Co. is expanding its footprint in Argentina with new office space, marking one of largest corporate rental properties over the past two decades in the nation’s capital.
The Wall Street giant signed a long-term lease to rent 20 floors on a two-building campus in Buenos Aires’ Núñez neighbourhood that’s under construction and is expected to be delivered in 2026 and 2027.
JPMorgan will also modernise its current offices near the city centre, according to the company’s statement Thursday.
The announcement represents the largest corporate rental agreement in Argentina in the last 20 years, according to local newspapers La Nación and Clarín.
The bank is one of the largest employers in Argentina with more than 3,600 employees there and plans to hire 1,500 more workers in the country over the next five years to build out it strategic hub that serves the bank’s operations in the United States, Europe and Latin America.
“This is not just an investment in physical space, but in the future of our workforce, and reinforces our commitment to the development of the local economy,” Facundo Gómez Minujín, JPMorgan’s Senior Country Officer for Argentina, Uruguay, Paraguay, and Bolivia, said in the statement.
by Kevin Simauchi, Bloomberg
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