Hong Kong, September 15, 2009 - J.P. Morgan today announced that it has continued the expansion of its Treasury Services offerings in Asia Pacific by launching new Escrow servicing capabilities in Australia and Singapore. J.P. Morgan is now providing customized end-to-end Escrow services in these countries to help customers better manage financial risk associated with a range of business transactions, such as mergers and acquisitions, initial public offerings, import and export payments, collateral trusts for reinsurance, and construction project funding.
Acting as an independent third party, J.P. Morgan holds assets in escrow and disburses them when a performance or commitment is delivered upon. J.P. Morgan's dedicated Escrow team offers a reliable and dependable service, including counsel and document preparation, to ensure that transactions close quickly, accurately and securely.
"In response to customer demand, we are pleased to launch our Escrow services in Australia and Singapore, thereby helping companies protect their assets and mitigate risk, which is a priority for many organisations in these uncertain times," said Christine Doria, Escrow and Bankruptcy Services - product executive for J.P. Morgan Treasury Services.
Through the launch of these services, J.P. Morgan will be able to provide an important complement to the cash management, trade finance and liquidity management products already offered today in these key markets.
In commenting on the regional expansion, Linda McLaughlin-Moore, managing director, Asia Pacific product management executive, J.P. Morgan Treasury Services added: "We are committed to growing our business in Asia Pacific and will continue to expand our footprint and enhance domestic capabilities to fortify our position as a leading treasury management solutions provider in Asia Pacific."
J.P. Morgan already offers Escrow services in China, Hong Kong and India, and plans to further expand to other countries in the Asia Pacific region in the coming year. Clients of Escrow services have access to a broad range of other services, such as J.P. Morgan's liquidity solutions which help maximise working capital and optimise liquidity.
J.P. Morgan also offers Escrow services in the United Kingdom, United States and Brazil and plans to offer the service in additional financial centers throughout Europe and in other Asian countries in the coming year. The expansion of the company's Escrow services is part of J.P. Morgan Treasury Services' ongoing plan to continually invest in systems, innovation and services to benefit its clients throughout the world.
J.P. Morgan leverages the services and products of its Worldwide Securities Services division, as well as its Investment Bank, Asset Management and Private Bank lines of business to provide its customers with integrated banking solutions.
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