Volvo Appoints JPMorgan on ADR Mandate
Volvo has added JPMorgan to its American Depositary Receipt (ADR) programme. The programme went live with JPMorgan on 22 February 2005. Volvo is a leader in commercial transportation products including trucks, construction equipment and marine and industrial engines. JPMorgan has more than 40 per cent of the ADR market’s capitalisation and 110 ADR clients in the Europe, Middle East and Africa region. “Good recognition in external markets is crucial to any ADR programme, and a depositary bank can play a key role in this. We are delighted to be working with a major transportation company such as Volvo,” said Patrick Colle, global head of ADRs at JPMorgan.