JPMorgan Chase plans to add more than 300 jobs in Boston over the next several years, and will move its Boston operations to the newly constructed South Station Tower in early 2028.
New jobs will span commercial banking, private banking, asset management, and institution sales and marketing teams, a spokesperson said Tuesday.
The bank will also open eight locations in Massachusetts in the next year, according to the spokesperson, increasing its Bay State count from 92 branches to 100.
Roughly eight employees per branch are in addition to the 300-plus new employees planned for residence at the 51-story South Station Tower, which will accommodate 1,000 JPMorgan employees across six floors.
“We are excited to deepen our roots in Boston and invest in the city’s future,” Rick MacDonald, JPMorgan’s New England region manager for commercial banking, said in a prepared statement. “The move to South Station Tower represents a new chapter for our firm in Boston and in New England, providing a dynamic environment for our teams and reinforcing our commitment to supporting economic growth and opportunity in the city and across the region.”
Texas-based developer Hines completed the tower last year. The law firm Jones Day, insurance firm FM, and financial services company Citadel will also occupy space there, Boston.com reported.
JPMorgan began operating in the Boston area in 2018. It now counts more than 1,600 employees across its corporate offices and Chase branches.
“Our growth in the city has been remarkable – from a small team to a thriving presence that supports clients, communities, and businesses across the region,” Stephen Burbage, JPMorgan’s head of institutional sales and marketing in Boston, said in a prepared statement. “I’m proud of our continued investment in local talent, innovation, and community partnerships – ensuring that JPMorganChase remains a driving force in Boston’s ongoing success.”
Massachusetts branches are part of a broader expansion, which has the bank set to open 160 branches nationally in 2026.
In late 2024, Marianne Lake, the bank’s CEO of consumer and community banking, called JPMorgan’s branch strategy “a very long game.”
“[B]ut we understand what we’re doing and it is paying dividends,” she said.
Branches that have opened in the five previous years are fueling the bank’s gains in market share, Lake said, adding that she expected that to continue.
