JPMorgan to hire 4000 people in India

By agencies   |   Tuesday, 28 March 2006, 08:00 Hrs
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DETROIT: JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Wall Street bank would hire another 4,000 staff in India this year, taking its total there to about 9,000.

The step has been taken in order to expand its presence in other Asian countries. Along with plans to hire 750 people in the Philippines this year and actively looking for acquisitions in China, Dimon said, adding, "We are optimistic about the future in China."

Dimon said, at any given point of time, JP Morgan is looking at 30 to 40 companies, predominantly in the U.S. "We will be in the acquisition business again one day, but the most important thing we can do is grow our own business," he said. "Grow organically -- stores, bankers, salesmen."

Currently the company had nearly 170,000 full-time employees as of Dec. 31, 2005. JPMorgan Chase has grown into the third biggest bank in the U.S., after absorbing companies like J.P. Morgan & Co., Chemical Bank, Manufacturers Hanover, and Bank One.

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