JPMorgan (NYSE: JPM) intends to grow its corporate banking team across Asia next year to capitalize on increasing business prospects from intra-Asia trades, the innovation economy and payment services. This was stated by Oliver Brinkmann, Asia-Pacific co-head of global corporate banking at the company, in an interview with South China Morning Post.
Details About JPM's Strategic Expansion
Brinkmann said, "We aim to add 10 percent headcount to the corporate banking team across Asia next year."
The increased headcount will be dispersed across the team's four divisions: large-cap, mid-cap, innovation economy and subsidiary banking.
In subsidiary banking, the majority of the new talent will be allocated to Southeast Asia and India, while in local corporate banking, additional headcount will be focusing on North Asia, Greater China, Japan, India and Australia, according to Brinkmann.
JPMorgan's Rationale Behind This Move
According to Kerwin Clayton, Asia-Pacific co-head of global corporate banking at JPMorgan, this move aims to enhance the company's client base by offering a comprehensive set of wholesale banking products and solutions to clients of all magnitudes.
Brinkmann further added, "The velocity of investments has changed. There's also ...
