US financial services group JPMorgan is looking to hire a team of retail bankers in Germany in a bid to expand its consumer banking operations.

The move is part of the bank’s efforts to open new and steady streams of revenue.

A year ago, JPMorgan launched its retail arm —Chase — in the UK, marking its foray into the overseas consumer banking market.

In the next few years, the bank aims to expand into other European markets as well.

The US banking group is now tracking the success of its launch before a decision on business expansion is made, a top executive told Reuters.

The German team could be used across multiple locations, but a plan is yet to be finalised, the source said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Based on the job postings on JPMorgan’s website, the lender is hiring for roles including “people project lead” in global consumer banking, and financial crime compliance officer.

A representative for JPMorgan declined to comment on job openings or on plans to expand retail banking operations.

The job openings at the bank highlight its plans to expand consumer banking business, Nils Wilm, a banking recruiter in Germany was cited by the news agency as saying.

Last month, the Economic Times reported that JPMorgan is planning to expand its staff in India by 5,000. Other than core banking, the bank’s team in India operates in areas such artificial intelligence, analytics and blockchain.