JPMorgan China Opens Branch in Guangzhou
JPMorgan Chase Bank (China) has opened its Guangzhou branch, the bank’s fourth branch in mainland China. JPMorgan’s expansion into one of China’s fastest growing regions is an important milestone in the development of its franchise in China.
The new branch is JPMorgan’s hub for expansion in Guangzhou and the Pearl River Delta region. The office positions the bank to provide local and multinational corporations, as well as financial institutions, with a broad range of wholesale financial services. These include cash management in renminbi (RMB) and foreign currency, trade finance, liquidity management, risk management, foreign exchange and investment banking.
Peter Lighte, chairman of JPMorgan Chase Bank (China), said: “Guangzhou is central to the financial and commercial development of the Pearl River Delta, as well as critical to China’s trade and manufacturing industries. For our clients, we are proud to establish JPMorgan in this most important region to meet their local banking requirements, and to help them and China to prosper.”
Albert He has been appointed as the Guangzhou branch manager. He has 17 years of experience in the banking industry, primarily based in Guangzhou and Shenzhen.