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