JP Morgan has a three-year plan to increase the number of employees working for its Malaysian treasury services operations. In addition, JP Morgan’s clients with operations in Malaysia are now able to benefit from using JP Morgan Access, the bank’s global internet banking platform for cash management, information reporting, trade services and foreign exchange.
JP Morgan Treasury Services provides cash management services with nation-wide coverage in Malaysia, including high value payments, paper clearing and payables and receivables management, as well as trade finance and liquidity management services.
Raof Latiff, managing director and Asia head of treasury services clearing and foreign exchange at JP Morgan, said: “JP 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.”
Clement Chew, senior country officer in Malaysia at JP Morgan, said: “These investments are an important thrust in our plans to build on JP Morgan’s franchise in Malaysia, where the firm’s presence dates back to 1964. 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.”
