JP Morgan Launches Treasury, Money Market and FX Ops in Saudi Arabia
JP Morgan has launched treasury, money market and foreign exchange (FX) operations in Saudi Arabia. In this first part of its expansion plans in the country, the bank will become a local market counterparty and support clients with local booking and processing from operations in Riyadh.
“Saudi Arabia is an important growth market where JP Morgan’s strength as a global bank and US dollar clearing agent enables us to add value at an important time for the Kingdom. Further, this expands our international banking capabilities to address the increasingly global nature of our clients and the need to service those clients’ cross-border needs,” said Abdulaziz Al Helaissi, senior country officer for JP Morgan in Saudi Arabia.