Chengdu, September 10, 2009 - JPMorgan Chase Bank (China) today announced the opening of its Chengdu branch, the bank's fifth branch in mainland China. The new branch will accelerate J.P. Morgan's expansion into Southwestern China, and is part of an ongoing strategy to expand the bank's national coverage.
The Chengdu branch will contribute to the immense growth potential of China's southwestern region by providing a broad range of first-class 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.
The opening was officiated by Gaby Abdelnour, Chairman and CEO of J.P. Morgan Asia Pacific, Heidi Miller, CEO of J.P. Morgan Treasury & Securities Services and Peter Lighte, Chairman of JPMorgan Chase Bank (China) Co. Ltd
Abdelnour said the Chengdu branch provides the firm an anchor in an important region. "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," he added.
In addition to its headquarters in Beijing, the bank has branches in Shanghai, Tianjin and Guangzhou. Each branch provides clients with integrated solutions through the bank's Treasury & Securities Services, Investment Bank and Asset Management divisions.
Miller 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."
Francis Ye was recently appointed Chengdu branch manager. Francis has a wealth of experience in the banking industry.
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