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Brown Brothers Harriman, Euroclear to open data analysis centres in Poland?


2011-05-31



Two foreign financial institutions are considering Poland as a potential location for new data analysis centres, projects that would bring a total of 750 jobs, Puls Biznesu reported, citing government and business sources.

One is Brown Brothers Harriman (BBH), a privately-owned US financial services firm with almost 200 years of history, which plans to open a centre in Europe. The facility would employ 300 people. BBH’s representatives already visited Poland twice in connection with the project. In late May they were in Wroclaw, Krakow and Warsaw. But the company is still exploring potential sites in other countries, including in Western Europe.

The other company is Euroclear, a Brussels-based provider of post-trade services for asset types such as bonds, equities, funds and derivatives. It is contemplating locations in several countries of Central and Eastern Europe for a new financial centre that would employ 450 staff. In Poland it is looking at Warsaw and Wroclaw.

In November 2010 it emerged that Bank of New York Mellon, the US financial services group, was in talks with the Polish Information and Foreign Investment Agency (PAIiIZ) about opening a large data analysis centre in the country, with Gdansk, Wroclaw and Krakow being the candidate locations. According to the newspaper, the company will most probably select Wroclaw, where it already has a unit employing 90 staff, and expand it into a centre with more than 500 employees.

Several major financial services firms already have data analysis centres in Poland. They are State Street (Krakow), Credit Suisse (Wroclaw), and Franklin Templeton (Poznan).

See also the news item 'Credit Suisse to add over 250 jobs in Wroclaw'.



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