HONG KONG, March 3 /PRNewswire-Asia/ -- J.P. Morgan Treasury
Services today announced investments in Malaysia to further
strengthen its domestic capabilities, as part of its US$1 billion
global investment announced in 2008. J.P. Morgan has completed the
integration of its in-country treasury management service offering
and core infrastructure to provide its clients with seamless
working capital management solutions.
J.P. Morgan has a three-year plan to increase the number of
employees working for its Malaysian Treasury Services operations.
In addition, J.P. Morgan's clients with operations in Malaysia are
now able to benefit from using J.P. Morgan ACCESS(SM), the bank's
global internet banking platform for cash management, information
reporting, trade services and foreign exchange.
J.P. Morgan Treasury Services provides cash management services
with nation-wide coverage in Malaysia, including high value
payments, paper clearing and payables & receivables management,
as well as trade finance and liquidity management services.
Raof Latiff, managing director and Asia head of Treasury Services
clearing and foreign exchange at J.P. Morgan said: "As Malaysia's
economy grows and trade flows increase, corporate requirements will
become increasingly complex, driving the demand for efficiency and
for integrated solutions. J.P. Morgan is in a unique position to
provide its clients with sophisticated cross-border cash management
solutions supported by state-of-the-art electronic tools. We are
delighted to be able to strengthen our treasury management service
offering in Malaysia to help our clients achieve their expansion
plans."
Clement Chew, J.P. Morgan's senior country officer in Malaysia
added: "These investments are an important thrust in our plans to
build on J.P. Morgan's franchise in Malaysia, where the firm's
presence dates back to 1964. They also add to our recent product
expansion in various areas. For example, we have used our onshore
securities platform to develop our futures and options and
stock-borrowing lending capabilities locally to be able to offer
our clients a wider range of services. We look forward to further
growing our commercial bank in 2010."
J.P. Morgan is the world's largest U.S. Dollar clearing and
commercial bank. J.P. Morgan Treasury Services leverages the
services and products of the bank's Worldwide Securities Services
division, as well as its Investment Bank, Asset Management and
Private Bank lines of business to provide its clients with
integrated banking solutions.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked,
full-service provider of innovative payment, collection, liquidity
management, trade finance, commercial card and information
solutions to corporations, financial services institutions, middle
market companies, small businesses, governments and municipalities
worldwide. With more than 50,000 clients and a presence in 39
countries, J.P. Morgan Treasury Services is one of the world's
largest providers of treasury management services and a division of
JPMorgan Chase Bank, N.A., member FDIC. More information can be
found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial
services firm with assets of $2 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 and
Chase brands. In Asia Pacific, J.P. Morgan operates through 26
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.
Media Contact:
Karene Dufour Lo
J.P. Morgan Treasury & Securities Services - Asia Pacific
(ex-Australia)
Tel: +852-2800-1924
Email: [email protected]
SOURCE J.P. Morgan