J.P. Morgan Treasury Services announced investments in Malaysia to further strengthen its domestic capabilities, as part of its US$1 billion global investment announced in 2008. J.P. Morgan has completed the integration of its in-country treasury management service offering and core infrastructure to provide its clients with seamless working capital management solutions.
J.P. Morgan has a three-year plan to increase the number of employees working for its Malaysian Treasury Services operations. In addition, J.P. Morgan’s clients with operations in Malaysia are now able to benefit from using J.P. Morgan ACCESSSM, the bank’s global internet banking platform for cash management, information reporting, trade services and foreign exchange.
J.P. Morgan Treasury Services provides cash management services with nation-wide coverage in Malaysia, including high value payments, paper clearing and payables & receivables management, as well as trade finance and liquidity management services.
“As Malaysia’s economy grows and trade flows increase, corporate requirements will become increasingly complex, driving the demand for efficiency and for integrated solutions, says Raof Latiff, managing director and Asia head of Treasury Services clearing and foreign exchange at J.P. Morgan. J.P. Morgan is in a unique position to provide its clients with sophisticated cross-border cash management solutions supported by state-of-the-art electronic tools. We are delighted to be able to strengthen our treasury management service offering in Malaysia to help our clients achieve their expansion plans.”
“These investments are an important thrust in our plans to build on J.P. Morgan’s franchise in Malaysia, where the firm’s presence dates back to 1964, says Clement Chew, J.P. Morgan’s senior country officer in Malaysia. They also add to our recent product expansion in various areas. For example, we have used our onshore securities platform to develop our futures and options and stock-borrowing lending capabilities locally to be able to offer our clients a wider range of services. We look forward to further growing our commercial bank in 2010.”
J.P. Morgan is the world’s largest U.S. Dollar clearing and commercial bank. J.P. Morgan Treasury Services leverages the services and products of the bank’s Worldwide Securities Services division, as well as its Investment Bank, Asset Management and Private Bank lines of business to provide its clients with integrated banking solutions.
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