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Euroclear prepares to launch Krakow office


2012-07-23



Euroclear, a Brussels-based provider of post-trade services for asset types such as bonds, equities, funds and derivatives, has started recruiting staff for a soon-to-be opened large financial centre in Krakow. The project is expected to create up to 500 jobs in the next few years, as the company gradually relocates to Poland half of the operations from its 1,000-strong facility in Brussels. (The Belgian unit will be scaled down through natural attrition rather than lay-offs.)

Euroclear is still awaiting the approval from the European Commission for a PLN 2.7m (approx. €0.65m) grant it has received from the Polish government in support of the Krakow project, but a first group of Polish staff are already undergoing training in Brussels.

Two other Polish cities were considered by Euroclear as potential locations: Warsaw and Wroclaw.

Euroclear has 3,200 employees, including 2,400 in Belgium, 400 in Great Britain or 350 in France. In 2011 it settled the equivalent of more than €580,000bn in securities transactions, representing 163 million domestic and crossborder transactions, and held more than €22,000bn in assets for clients.



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