JP Morgan Expands Malaysian Treasury Management Offering
JP Morgan Treasury Services has increased investment in Malaysia to further strengthen its domestic capabilities, as part of its US$1bn global investment announced in 2008. The bank has completed the integration of its in-country treasury management service offering and core infrastructure to provide its clients with seamless working capital management solutions.
JP Morgan has a three-year plan to increase the number of employees working for its Malaysian Treasury Services operations. In addition, its clients with operations in Malaysia are now able to benefit from using JP Morgan AccessM, the bank’s internet banking platform for cash management, information reporting, trade services and foreign exchange.
Clement Chew, JP Morgan’s senior country officer in Malaysia, said: “These investments are an important thrust in our plans to build on JP Morgan’s franchise in Malaysia, where the firm’s presence dates back to 1964. They also add to our recent product expansion in various areas. For example, we have used our onshore securities platform to develop our futures and options and stock-borrowing lending capabilities locally to be able to offer our clients a wider range of services. We look forward to further growing our commercial bank in 2010.”