JP Morgan plans to further expand its treasury and securities services businesses which will see the recruitment of 100 additional staff across Australia and New Zealand and establishment of a new Australian headquarters in Sydney in 2012.
The expansion follows JP Morgan’s recent purchase of ANZ’s custodian services business. More than 170 former ANZ staff have transitioned to JP Morgan as part of the acquisition, expanding JP Morgan’s presence in financial centers of Melbourne and Wellington.
JP Morgan Treasury & Securities Services had already hired more than 50 new employees across its local taxation, business analytics and client servicing in the past several months. Around 100 additional hires are expected to be made across a wide cross-section of the business over the coming year.
According to the company, key areas of innovation this year will include the roll-out of escrow services, a new offering in the Australian and New Zealand market.
Jane Perry, CEO of JP Morgan Treasury & Securities Services for Australia and New Zealand, said: “As these case studies illustrate, a growing number of clients are demanding solutions that cover both securities and cash products. The global reach of JP Morgan Treasury & Securities Services and its leadership in both these spaces, means we are ideally positioned to help clients find the solutions they need.
“Clients are looking for robust and sustainable global relationships which can grow within an evolving environment. We’re aiming to work closely with clients to achieve a form of joint execution around new services which will help clients take the next step for their business.”