The bank looks set to significantly expand its workforce in Ireland over the next three years.

US bank JP Morgan Chase has confirmed plans go on what the Financial Times has described as a “hiring spree” in Dublin over the next three years. James Kenny, head of investor services at JP Morgan, told the Financial Times that a “significant” number of people would be hired for the custody and fund services business over the next three years. The Financial Times report added that JP Morgan is on the verge of purchasing a 130,000 square foot space in Dublin’s Capital Docks in the heart of the Dublin docklands, a space that could accommodate approximately 1,000 people. JP Morgan already employs approximately 500 people at its Dublin headquarters in the north dock. The prospect of JP Morgan moving jobs to Dublin had been flagged ever since Britain voted to exit the European Union last summer. A number of other major banks, including Deutsche Bank, Goldman Sachs, Morgan Stanley and HSBC are believed to be considering moving jobs out of London to other centres in Europe as a result of Brexit. The Financial Times says that demand for financial services talent in Dublin is likely to “shoot up” as insurers, banks and financial services groups consider expanding operations there in the lead up to, and following, Britain’s official exit from the EU.