JP MORGAN is to spend £28.6m improving its Bournemouth base.

The announcement came in a statement in which chief executive Jamie Dimon voiced his pride at the bank being an “active member of the Bournemouth community”.

JP Morgan says a three-year programme of improvements costing 48 million US dollars will transform its technology and operations centre at Chaseside.

More than 4,000 people are employed at the site.

The bank says the improvements will give staff access to more state-of-the-art communications technology and equipment, enabling better interaction with colleagues in Europe, the US and Asia. The building’s restaurant and common spaces will be revitalised and facilities will be upgraded for employees who cycle to work.

Jamie Dimon, New York-based chairman and CEO of JPMorgan Chase, said: “Bournemouth offers access to high quality talent and to facilities that can support our business, not just in London, but around the world.

“We are proud to be an active member of the Bournemouth community and to be the largest private sector employer in Dorset.”

JP Morgan has had offices in Bournemouth for 28 years, supporting client activities in 40 countries. The new funding builds on a £10.7m (18 million US dollar) investment completed in 2011 to improve infrastructure at the site.

Simon Cooper, JP Morgan chief administrative office Bournemouth site leader, said: “Our employees in Bournemouth are an integral part of the global operations of our firm, and our commitment to continually investing in their work is unquestionable. This commitment is something that those of us who live and work here see every day.”

The company’s activities in the town includes the Supporting Our Community programme, which helps 130 local voluntary organisations, charities and schools. It recently invested £1.1m in education through the Achieve Together project, as well as supporting economic growth through the YTKO Get Set For Growth programme, and created opportunities for young people through the Catch 22 Office Apprenticeship Service.