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British investments beyond Brexit

GlaxoSmithKline’s European Finance Hub – further commitment to Poznań

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On 15 March 2019, GSK announced it would be setting up its European Finance Hub in Poznań, employing between 200 and 300 experienced financial experts to carry out high-value added financial work for the company.

Planning, forecasting, budgeting, reporting and financial control functions for operations across the whole of Europe will be conducted through Poznań. By the end of this year, the finance hub will be employing its first 80 employees. It will become one of three such hubs carrying out finance activities for GSK around the world. The new team will also be responsible for implementing intelligent process automation and mobile technologies.

GSK already employs over 700 IT specialists in Poznań, who provide IT support for all of GSK’s 100,000 employees in more than 100 countries worldwide. Other activities carried out in Poznań for other GSK operations across Europe include pharmacovigilance, marketing and regulatory functions, which include new drug registration.

The new unit will be co-located with the IT hub until a new, purpose-built office is ready for it by the end of 2020. By then, the European Finance Hub will be responsible for a quarter of GSK’s global sales of £8 billion. “The work carried out here will be highly analytical, requiring coordination and judgment, rather than repetitive, transactional activities, using our single global SAP platform,” said Nikos Xydias, director-general of GSK in Poland.

Poznań is also home to GSK’s pharmaceutical manufacturing facility that produces over 10m packs of medicine every day for over 130 markets around the world. In total, GSK currently employs 2,000 people in Poland of whom 1,500 are currently in Poznań. And in nearby Gądki, is GSK’s outsourced European logistics hub.

Speaking at the press conference announcing GSK’s £6m new investment in Poznań, the city’s deputy mayor Katarzyna Kierzek-Koperska said that a crucial factor behind the decision was the fact that Poznań is a city of 120,000 students, so investors looking to set up advanced business or IT centres will not find it hard to recruit the right people. She also highlighted Poznań’s excellent infrastructure links, located as it is half way between Warsaw and Berlin.

Undersecretary of state at the Ministry of Enterprise and Technology, Tadeusz Kościński, said that GSK’s latest investment in Poland shows that the country is moving up the value-added ladder, attracting ever more innovative, technologically advanced investments that offer high-quality, well-paid and stable employment. It is proof that Poland offers good conditions for investment, and confirms that for GSK, Poland has become a strategic market.

GSK has partnerships with Poznań University of Technology and with Poznań University of Economics, which form an important part of the firm’s recruitment and employer branding activities.

GSK has been in Poland for over 20 years since acquiring the Polfa Poznań manufacturing plant in 1998 (then as Glaxo Wellcome, before the merger with SmithKlineBeecham that formed the current GSK in 2000). Today, GSK, headquartered in West London, is the world’s sixth largest pharmaceutical company.

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