US investment and securities giant Brown Brothers Harriman & Co. (BBH) is set to open a new business centre in Krakow, and employ 200–300 people over the next two years.
BBH’s Krakow business centre will be the fifth of its kind in Europe, and the company expects to hire 500 local staff in the long term.
“We do not intend to build a mere annex here in Krakow, but a genuine business centre linked to our other centres around the world,” said Michael McDonald, Managing Director of BHH Poland.
Krakow was chosen as the location for the new venture from among three cities in Ireland and three in Poland – the other Polish candidates being Warsaw and Wrocław.
“Choosing Krakow was the result of a long process of analysis. This region has experienced excellent growth over recent years. It has very good infrastructure and well-educated college graduates,” said McDonald.
Unlike other BBH business centres in Europe, the Krakow operation will provide its clients with technical support as well as investment and asset management services.
Up to half of new recruits are expected to be recent graduates, with qualifications in economics and information technology being the most in demand.
BBH is the oldest and largest private banking institution in the United States. It currently employs 5,000 people in 16 other locations throughout North America, Europe and Asia, and manages assets worth some 3 trillion USD.