JP Morgan has launched new Escrow servicing capabilities in Australia and Singapore, as a part of its expansion of treasury services offerings in Asia Pacific. It also plans to expand the services to other countries in Asia and the Europe in the coming year.
Reportedly, JP Morgan provides customized end-to-end Escrow services in these countries to help customers 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.
JP Morgan has said that acting as an independent third party, it holds assets in escrow and disburses them when a performance or commitment is delivered upon. It has added that its Escrow team offers a counsel and document preparation, to ensure that transactions close quickly, accurately and securely.
Christine Doria, Escrow and bankruptcy services – product executive for JP Morgan Treasury Services, said: “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.”
Linda McLaughlin-Moore, managing director, Asia Pacific product management executive, JP Morgan Treasury Services, said: “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.”
