--- title: J.P. Morgan shifts over 2,000 jobs from NYC to Jersey description: J.P. Morgan shifts over 2,000 jobs from NYC to Jersey --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Contributors Corner](https://articles.marketsmedia.com/tag/contributors-corner) - Contributors Corner - J.P. Morgan shifts over 2,000 jobs from NYC to Jersey Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 07.08.2015 By Terry Flanagan Contributors Corner # J.P. Morgan shifts over 2,000 jobs from NYC to Jersey 07.08.2015 By Terry Flanagan [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) by [Paul Clarke](http://news.efinancialcareers.com/us-en/215728/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey/), [eFinancialCareers](http://www.efinancialcareers.com/) --- J.P. Morgan employs a lot of tech staff. At the last count, our sources suggested around 30,000 people in this area – still around 25,000 less than Google, but a huge employee base for a company whose principal focus is finance. But just because technology is a big focus for banks, doesn’t mean that they want to base their IT staffers out of major financial centers. We suggested previously that the J.P. Morgan’s decision to shift 350 tech jobs out of London to the lower cost destination of Bournemouth – a beachtown on the south coast of the UK – could mean a change in strategy that could hit the U.S. So it has proved. J.P. Morgan is [moving 2,150 roles from New York](http://www.nasdaq.com/article/jp-morgan-chase-seeks-to-move-2150-jobs-from-nyc-to-jersey-city-20150707-01038#/ixzz3fFBts8jJ) – where they are housed in a series of disparate offices – to a single location in New Jersey. This will have the double benefit of cutting costs and consolidating the offices. Immediately, this is unlikely to affect the bank balances of J.P. Morgan employees. It offered [its employees in London the same salaries](http://news.efinancialcareers.com/uk-en/214939/good-news-for-j-p-morgan-people-who-are-moving-to-bournemouth/) to make the move to Bournemouth, so it could follow suit in the U.S. Longer term, however, the concept of ‘nearshoring’ – shifting jobs out to lower cost destinations close to home – is likely to mean downward pressure on pay. #### **Avoiding a Terrible Start ([eFinancialCareers](http://news.efinancialcareers.com/uk-en/150715/12-ways-investment-banking-analysts-screw-up-in-their-first-weeks-on-the-job/)**) Thousands of new analysts will be joining investment banks across the globe this month. Here’s how they can avoid screwing up in the first few weeks. #### **Summer Looking ([eFinancialCareers](http://news.efinancialcareers.com/uk-en/215623/how-to-secure-a-new-finance-job-before-august/))** Getting a new job before the end of August is difficult, but not entirely impossible. #### **Goldman Sachs Shake-Up ([Financial Times](http://www.ft.com/cms/s/0/af515b7a-24a5-11e5-9c4e-a775d2b173ca.html#axzz3f6MIGrd5))** Karen Cook has been named chairman of its investment banking division. Her rise is exceptional not only because of her gender, but because of her background – her father was a car mechanic and she only went into banking after taking an MBA at Manchester University. #### **Tough Call ([Bloomberg](http://www.bloomberg.com/news/articles/2015-07-07/friday-afternoon-scam-cost-hedge-fund-1-2-million-and-cfo-s-job))** Hedge fund CFO loses $1.2m after handing over pin numbers to a fraudster claiming to be calling from his private bank Coutts. He was also fired by his employer. #### **@BSelevator [(Bloomberg)](http://www.bloomberg.com/news/articles/2015-07-07/john-lefevre-s-wall-street-memoir-full-of-hookers-cocaine-and-other-cliches)** The famous @GSElevator Twitter account is nonsense, says former Goldmanite: “I used to work at Goldman. I never heard anything like this in the elevators. My colleagues were nice people.” #### **The Step Across ([WSJ](http://www.wsj.com/articles/rbc-names-doug-guzman-head-of-wealth-management-and-insurance-1436273621))** Royal Bank of Canada has named Doug Guzman head of its wealth management division. He was previously global head of investment banking. #### **Gone Swiss ([WSJ](http://blogs.wsj.com/moneybeat/2015/07/07/ubs-names-new-head-of-global-equity-syndicate/))** UBS has poached a senior banker from Deutsche Bank in New York. Brad Miller joins as global head of equity capital markets syndicate. #### **A Bit Boring ([Business Insider](http://uk.businessinsider.com/wall-street-internships-arent-all-that-tough-2015-7?r=US#ixzz3fDn3EoIf))** Investment banking intern says that the hours are tough, but the work isn’t very hard, or very exciting. **Quote of the day: ** “I wanted to do my job as perfectly as I could. It doesn’t matter if I was cleaning a deep fat fryer or picking chicken off the bone, those jobs were left to me because I’d do them the best possible,” **Tom Hayes, the $12m trader at the center of the Libor scandal, on his first job at a fast-food restaurant.** Read the[original article](http://news.efinancialcareers.com/us-en/214821/goldman-sachs-is-drawing-in-staff-from-jpm-ms-ubs-and-elsewhere/)on [eFinancialCareers](http://www.efinancialcareers.com/). Register now on [eFinancialCareers](http://www.efinancialcareers.com) to get access to all the latest finance jobs. You can also check out eFinancialCareers on [Facebook](https://www.facebook.com/efinancialcareers) and [Google+](https://plus.google.com/+efinancialcareers/posts). Copyright 2015. Follow eFinancialCareers on [Twitter](https://twitter.com/eFC_USA). [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/j-p-morgan-shifts-over-2000-jobs-from-nyc-to-jersey) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Depositphotos_5387457_l-2015-May-12-2022-08-40-47-58-AM.jpg?width=376&height=250&name=Depositphotos_5387457_l-2015-May-12-2022-08-40-47-58-AM.jpg)](https://articles.marketsmedia.com/deciphering-the-size-of-the-portfolio-trading-market) Bonds ## [Deciphering the Size of the Portfolio Trading Market](https://articles.marketsmedia.com/deciphering-the-size-of-the-portfolio-trading-market) Portfolio trading growth may signal a shift towards electronification, efficiency and minimal price impact. 05.19.2021 By Markets Media 2. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/Depositphotos_156951870_l-2015-May-12-2022-09-29-26-33-AM.jpg?width=376&height=250&name=Depositphotos_156951870_l-2015-May-12-2022-09-29-26-33-AM.jpg)](https://articles.marketsmedia.com/crypto-assets-and-security-tokens-considerations-for-institutional-asset-servicing) Contributors Corner ## [Considerations for Institutional Digital Asset Servicing](https://articles.marketsmedia.com/crypto-assets-and-security-tokens-considerations-for-institutional-asset-servicing) Regulations and disintermediation may not go hand-in-hand. 12.18.2019 By Rob Daly 3. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/MoneySky-May-12-2022-09-19-04-70-AM.jpg?width=376&height=250&name=MoneySky-May-12-2022-09-19-04-70-AM.jpg)](https://articles.marketsmedia.com/fed-rate-increase-boosts-trading-costs) Trading ## [Fed Rate Increase Boosts Trading Costs](https://articles.marketsmedia.com/fed-rate-increase-boosts-trading-costs) The trend is unmistakably upward, Meritsoft notes. 09.28.2018 By Terry Flanagan [![MarketsMedia](https://articles.marketsmedia.com/hubfs/MarketsMedia.svg "MarketsMedia")](http://marketsmedia.com) - [About us](https://www.marketsmedia.com/about-us) - [Careers](https://www.marketsmediagroup.com/careers) - [Contact](https://www.marketsmediagroup.com/contact) - [Advertise](https://www.marketsmediagroup.com/advertise) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Corporate Site](https://marketsmediagroup.com) - © 2026 Markets Media Holdings LLC - - Terms & Conditions - Privacy Policy {{ standard\_footer\_includes }}