J.P. Morgan China Opens Branch in Guangzhou
Guangzhou - JPMorgan Chase Bank (China) today officially opened its Guangzhou branch, the bank’s fourth branch in mainland China. J.P. Morgan’s expansion into one of China’s fastest growing regions is an important milestone in the development of its franchise in China which was established over 80 years ago.
The new branch is J.P. Morgan’s hub for expansion in Guangzhou and the Pearl River Delta region. The office uniquely positions J.P. Morgan to provide local and multinational corporations, as well as financial institutions, with a broad range of wholesale financial services. These include cash management in RMB and foreign currency, trade finance, liquidity management, risk management, foreign exchange and investment banking.
Gaby Abdelnour, Chairman and CEO of J.P. Morgan Asia Pacific said the branch had the potential to achieve strong growth. “The opening in Guangzhou will enable our bank to maintain the vigorous momentum it has generated in China since it was locally incorporated in 2007. It also demonstrates our continued commitment to China,” he added.
Peter Lighte, Chairman of J.P. Morgan Chase Bank (China) Co. Ltd. said: “Guangzhou is central to the financial and commercial development of the Pearl River Delta, as well as critical to China’s trade and manufacturing industries. For our clients, we are proud to establish J.P. Morgan in this most important region to meet their local banking requirements, and to help them and China to prosper.”
Albert He has been appointed as the Guangzhou branch manager. Albert has 17 years of experience in the banking industry, primarily based in Guangzhou and Shenzhen.
JPMorgan Chase Bank (China) Co. Ltd’s other branches are located in Beijing, Shanghai, and Tianjin.
J.P. Morgan provides its customers with integrated solutions through its Treasury & Securities Services, Investment Bank and Asset Management divisions.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and Washington Mutual brands. In Asia Pacific, J.P. Morgan operates through 25 offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years in the region. More information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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