JPMorgan Expands Escrow Capabilities in Asia-Pacific
JPMorgan has announced that it has continued the expansion of its treasury services offerings in Asia-Pacific by launching new escrow servicing capabilities in Australia and Singapore. The bank is now providing customised end-to-end escrow services in these countries in an effort to help customers better manage financial risk associated with a range of business transactions, such as mergers and acquisitions, initial public offerings, import and export payments, collateral trusts for reinsurance, and construction project funding. Acting as an independent third party, JPMorgan holds assets in escrow and disburses them when a performance or commitment is delivered upon.
Through the launch of these services, JPMorgan says it will be able to provide an important complement to the cash management, trade finance and liquidity management products already offered today in these key markets.
The bank already offers escrow services in China, Hong Kong and India in Asia, as well as in the UK, US and Brazil and plans to offer the service in additional financial centres throughout Europe and in other Asian countries in the coming year.