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JP Morgan Opens New Branch In China

To provide a broad range of first-class wholesale financial products and services

JP Morgan Chase Bank (China) has opened its Chengdu branch, the bank’s fifth branch in China, as a part of its national coverage expansion plan.

Reportedly, the Chengdu branch will contribute to the growth potential of China’s southwestern region by providing a range of wholesale financial products and services. These include cash management in both RMB and foreign currency, trade finance, liquidity management, risk management, foreign exchange and investment banking. It has added that Francis Ye was appointed Chengdu branch manager.

Gaby Abdelnour, chairman and CEO of JP Morgan Asia Pacific, said: “We are pleased to announce our presence in Chengdu. It is our second branch opening this year, demonstrating our continued commitment to building our China franchise.”

Heidi Miller, CEO of JP Morgan treasury & securities services, said: “Chengdu is an important economic, financial and cultural centre in Southwest China. The city is uniquely positioned to serve the development of enterprises in the region and we are delighted to make Chengdu our home in Southwest China.”