JPMorgan takes over 2nd Uptown BGC tower, doubling Manila workforce to 20,000

US banking giant JPMorgan Chase, one of the country’s biggest employers, is taking over its second office tower in Uptown Bonifacio Global City amid plans to double its Manila headquarters workforce to 20,000 employees in 2025.

The global banking leader is determined to expand its outsourcing and financial services footprint, signaling strong confidence in the Philippine office sector.

This move defies concerns over a potential US outsourcing pushback under a second Trump presidency.

JPMorgan Chase now occupies two 70,000-sqm office towers in Uptown Bonifacio, including the LEED Gold-certified JPMorgan Chase Tower and the newly leased International Finance Center. Strategically located near future Metro Manila Subway stations, these towers position the company at the heart of a growing business hub./Contributed photo 

Uptown BGC expansion

JPMorgan currently uses an entire 70,000-square meter (sqm) office tower in Uptown, which is currently known as JPMorgan Chase Tower.

Developed by property giant Megaworld, JPMorgan Chase Tower is one of the most modern buildings in the area, boasting a LEED v4 Gold certification.

Because of its significant workforce ramp-up, InsiderPH learned the company leased out another office building in Uptown, the International Finance Center, which also has a footprint of 70,000 sqm.

JPMorgan is also moving to finalize other lease deals within the area. 

Naming rights

Tenants with sole occupancy of a building are typically granted naming rights. JPMorgan has exercised this by renaming the International Finance Center to JPMorgan Chase Center.

The newly installed logo on the building is now prominently visible.

JPMorgan Chase secures two modern office towers in Uptown Bonifacio, strategically positioned near a planned train station for the Metro Manila Subway./Contributed photo 

Thinking years ahead 

JPMorgan’s two office towers in the Philippines will have direct access to the upcoming Metro Manila Subway station in the Uptown area.

A large section of the ground floor will feature a Starbucks, located right next to the Tesla showroom.

Expansion planned even before Jamie Dimon’s 2024 visit 

According to an industry source, the banking group was planning expansion moves even before JPMorgan chair and CEO Jamie Dimon visited Manila in September last year. 

JPMorgan, which established its Philippine office in 1961, provides a full range of banking services, including corporate and investment bank, stock brokerage and treasury services.

It recently unveiled plans to require employees worldwide to return to the office for five days a week, rolling back the hybrid setup during the global health crisis.

“Manila is the site of our rapidly expanding global service center that supports our various lines of businesses,” the P40-trillion financial services group stated on its website.

About the author
Miguel R. Camus
Miguel R. Camus

Miguel R. Camus has been a reporter covering various domestic business topics since 2009.

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