JPMorgan's Tokyo Branch Licenced to Provide Foreign Bank Agency Services
The Tokyo branch of JPMorgan Chase Bank has received a Foreign Bank Agency licence from the Financial Services Agency in Japan. This licence will enable the branch to act as an agent on behalf of its overseas offices for a wide range of wholesale banking operational areas, and to interact as an intermediary between its overseas offices and its clients in Japan.
The Foreign Bank Agency license further strengthens JPMorgan’s cash management, trade finance and liquidity management capabilities in Japan by allowing the bank to service its clients with one local point of contact. The bank also hopes that this integrated and seamless approach will also enable it to deliver new products and services through its offshore locations in a timely manner.
“We are committed to providing an intimate local experience to our clients and to simplifying our processes. Obtaining our Foreign Bank Agency license represents an important step for us and more importantly, it will directly benefit our clients in Japan,” said Ricky Kaura, managing director and Treasury Services Japan business executive at JPMorgan.