JP Morgan Chase opens call center at Asiatown

CEBU, Philippines - American outsourcing firm JP Morgan Chase & Co. (JPMC) will open a 420-seat call center facility in Cebu at the Asiatown IT Park.

This would provide an additional employment of 2,520 people in a two-shift cycle. Currently, the locators at the 24-hectare Asiatown IT Park employ close to 13 thousand people.

JPMC recently signed a five-year lease contract to occupy four and a half floors or a total of 12,404 square meters of office space at the newly completed eBloc Tower, for their Philippine Customer Care Center facility.

JP Morgan Chase is one of the largest banks in the United States and one of the oldest financial firms in the world. It offers a well-balanced mix of mergers and acquisition advice, financial advisory and capital raising solutions.

For over 40 years, JP Morgan has built a strong presence in Asia and has large network of offices in South Asia including Vietnam, Thailand, Malaysia, Singapore and the Philippines.

JPMorgan Securities Philippines Inc., conducts equities business which includes sales, research, and trading. JP Morgan Chase Bank, N.A.-Philippine Customer Care currently handles inbound and outbound call for the firm’s US based retail businesses—retail loans and card services.

Cebu Property Ventures and Development Corporation (CPVDC) the developer of Asia Town IT Park announced that by March of next year, JP Morgan will start its operations in Cebu.

CPVDC president Francis O. Monera said that the positive turn-out of investors’ interest to locate at the eBloc Tower, prompted CPVDC to start building a sequel of eBloc Tower or the second eBloc Tower in the next few months.

Cebu Investments and Promotions Center (CIPC) managing director Joel Mari S. Yu said in a separate interview that the existence of big names in the BPO sector in Cebu, would further strengthen the Province’s name as the preferred BPO destination in the world.

Yu reported that investors’ inquiries for BPO voice and non-voice have started to pick up. In fact, in the last few weeks CIPC had hosted several potential investors making ocular inspections in Cebu.

Yu hopes that this time, Cebu will be able to benefit from its number one “Emerging BPO destination” in the world position for two consecutive years (2008 and 2009), as the province was not able to fully enjoy it last year, because of the global recession.

While US is still the largest market for BPO investments, Yu said Cebu also is hoping to attract outsourcing companies from other continents like Europe.

The recent report by Tholons, declaring Cebu once again as number one “Emerging BPO destination” in the world for 2009, would re-enforce Cebu’s popularity as preferred BPO investment hub.