JPMorgan Chase plans to add hundreds of jobs in Boston after agreeing to become the anchor tenant of the city’s newest skyscraper.

In a statement released on Tuesday, the bank said it will consolidate its three current Boston office locations into more than eight floors of South Station Tower, starting in early 2028. JPMorgan Chase expects to hire approximately 300 additional employees over the next several years across its commercial banking, private banking, and institutional client sales and marketing divisions. This expansion will build on its existing local workforce of about 700 employees.

The move represents one of the largest office leasing commitments in downtown Boston in recent times. It also comes as the city seeks to diversify its economy beyond the life sciences sector, which experienced rapid growth during the pandemic but has since cooled.

Executives at JPMorgan Chase noted that Boston’s deep pool of investors and talent makes it a compelling long-term bet. The region benefits from a steady supply of highly skilled graduates from institutions such as MIT and Harvard. Beyond life sciences, the bank also sees growth potential in healthcare, robotics, and artificial intelligence (AI).

Dan Curtin, New England market manager for JPMorgan Chase Private Bank, remarked, “We’ve been around for 240 years. We don’t typically make decisions based on short-term market conditions.”