JPMorgan Chase Bank (China) is to open a Chengdu branch, the bank’s fifth branch in mainland China. The new branch will accelerate JPMorgan’s expansion into southwestern China, and is part of an ongoing strategy to expand the bank’s national coverage.
The Chengdu branch will contribute to the growth potential of China’s southwestern region by providing a broad range of wholesale financial products and services. These include cash management in both renminbi (RMB) and foreign currency, trade finance, liquidity management, risk management, foreign exchange and investment banking.
Gaby Abdelnour, chairman and chief executive of JPMorgan Asia-Pacific, said the Chengdu branch provides the firm an anchor in an important region. “We are pleased to announce our presence in Chengdu. It is our second branch opening this year, demonstrating our continued commitment to building our China franchise.”
In addition to its headquarters in Beijing, the bank has branches in Shanghai, Tianjin and Guangzhou. Each branch provides clients with integrated solutions through the bank’s Treasury & Securities Services, Investment Bank and Asset Management divisions.
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