JP Morgan to create more call center jobs in the Philippines

Manila, Philippines - August 9, 2005

JP Morgan, a global financial services firm, is among the many multinational corporations that are making the Philippines number one on their list for offshore businesses because the country offers high quality service at low costs.

The company announced its plans to revive its brokerage activities in the Philippines and is now in the process of setting up a business process outsourcing firm in the country to support its US credit card operations.

The firm believes that the Philippines has a highly skilled workforce and has proven to be a successful location for customer service oriented functions.

"JP Morgan has had a presence in the Philippines for over 40 years and is committed to the country over the long term. We have had a number of third party suppliers providing call center support for our US card operations and to date, the customer feedback has been very positive. All these makes the Philippines the ideal country for us to establish our customer care center," says Frederic DyBuncio, the company's newly-appointed senior country officer.

The company hopes to get a head start on the operations in the last quarter of the year. "At the moment, we envisage around 300 employees being part of the call center as the first phase in Q4 this year with additional growth in 2006," shares the senior country officer.

Named as Urban Bankers Coalition Financial Institution of the year, JP Morgan is committed to providing equal opportunity and affirmative action.

The company also recently received approval to reactivate their presence in the equities market, enabling it to provide securities services to local institutions and improve access to the Philippine equity market for its regional clients.

JP Morgan is known and trusted all over the world for asset and wealth management, card services, commercial banking, investment banking, retail financial services and treasury and security services. The firm has built a strong presence in Asia and has a large network of offices in South Asia including Vietnam, Thailand, Malaysia, Singapore and the Philippines.

JP Morgan now provides one of the few fully integrated platforms, that is, incorporating investment banking, commercial banking, treasury and security services, and equity sales, research and trading.

Condensed from Philippine Star, written by Candy Villanueva

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