BUSINESS

JPMorgan to invest further in Greece

JPMorgan to invest further in Greece

JPMorgan Chase & Co is willing to expand its office in Greece, invest further in Viva Wallet and attract high-level staff in Greece, its chairman and chief executive, Jamie Dimon, told Prime Minister Kyriakos Mitsotakis on Thursday, according to government sources.

The prime minister hosted the meeting at his office two days after the US financial giant announced it was acquiring approximately 49% of the Greek online bank Viva Wallet.

“As you are aware, we have plans to expand over time, so this may become a technology hub for JPMorgan Chase throughout the world,” said Dimon, the son of first-generation Greek immigrants.

“Viva is a great illustration of talent [that exists] in the engineering field” in Greece, Dimon stated, adding that this is a field that offers an “excellent way” for the economy to grow.

“I am excited about the progress you have achieved in Greece and we are also excited about acquiring 49% of Viva,” he added.

The JPMorgan head went on to express his pride about being Greek, “and I always think that if my grandparents – three of whom emigrated from the country in difficult times – were here, they would have been surprised to see me at the helm of JPMorgan Chase and meeting with the prime minister.”

For his part, Mitsotakis noted that JPMorgan’s decision constitutes a vote of confidence in the country and its economy and at the same time “reaffirms the new startup culture that has appeared in Greece.”

The prime minister added: “What I can tell you is that the country has turned a page and that Greece in 2022 has very few similarities with Greece at the time of economic crisis… I think we have laid the foundations for long-term and sustainable growth and we want you to be part of this story, not just because of your Greek descent, but because you truly see the opportunities that exist in the country.”

Participants in the meeting also included the head of the Prime Minister’s Economic Office Alex Patelis, the head of JPMorgan Chase in Greece, Stelios Papadopoulos, and its global head of wholesale payments, Takis Georgakopoulos.