Bank Alfalah, a financial institution in Pakistan with operations in several countries, has selected JP Morgan to handle a range of treasury and cash management services. Through its partnership with JP Morgan, the bank will provide smoother processing of transactions and a unified global network.
Bank Alfalah, which previously worked with JP Morgan on executing select trade transactions, will adopt a range of services, including US dollar clearing, trade reimbursement, account services and overnight fund sweeping. JP Morgan’s integrated solution will support Bank Alfalah’s strategic growth plans, particularly as the company expands its international operations.
Syed Hassan, head, financial institutions division, Bank Alfalah, said: “We elected to partner with JP Morgan based on their strong and continued presence in Pakistan and the other markets in which we operate. JP Morgan has extensive cross-market capabilities, a wide range of integrated solutions and strategic insights into how we can further benefit our customers. They understood our needs from the outset, and importantly, the solutions we received have met our requirements.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.