J.P. Morgan Further Strengthens Its Domestic Treasury Management
Offering in Malaysia
2010-03-03 11:34
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