JPMorgan’s treasury services business has announced plans to continue the enhancement and expansion of its service capabilities in the Asia Pacific region. As part of its three-year, US$1bn global investment plan announced last year, the bank aims to enhance its cash management and treasury liquidity capabilities, expand its regional footprint and reinvest in its technology solutions. This investment will further make it easier for JPMorgan clients to move, concentrate, invest and manage their cash around the world.
JPMorgan says that by expanding capabilities and services in the region, it is enabling its clients to become more efficient across different currencies and across their own global footprint. These expansion plans reflect the bank’s ongoing commitment to corporations and financial institutions operating in markets across the globe, as well as the bank’s mission to continue bringing global payment capabilities and expertise to clients locally
JPMorgan is building out its branch capabilities across the Asia Pacific region. With presence already in 15 countries, the bank recently opened two new branches in Guangzhou and Chengdu, China, while additional locations are planned in 2010 for China and South Asia.
In addition, JPMorgan has been enhancing and expanding its treasury services capabilities in Asia Pacific, including:
- The launch of regional clearing, foreign exchange, liquidity, payables and receivables platforms to unify delivery, information and channel access services.
- The launch of a standard billing platform across all Asia Pacific branches for better billing management and reporting.
- Enhanced domestic cash management and trade finance service offering in India and the launch of liquidity concentration and enhanced domestic cash management capabilities in South Korea. Additional expansion in the region is planned for 2010.
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