JP Morgan has opened a new branch office in Abu Dhabi, UAE. It has done business in the Middle East for more than 50 years since The Chase Manhattan Bank, a forerunner of JP Morgan, opened an office in Beirut.
Ghassan Abdul Karim, chairman of the MENA, Turkey and Central Asia region at JP Morgan said: “We are pleased to announce the opening of our Abu Dhabi office, which is a further statement to the firm’s commitment to Abu Dhabi, the UAE and to the entire MENA region.”
Murad Megalli, CEO of the MENA, Turkey and Central Asia region at JP Morgan, said: “Our local presence combined with JP Morgan’s unique product breadth and industry expertise will be essential to serve our clients with world-class financial services.”
Asif Raza, head of treasury & securities services in the MENA region at JP Morgan, said: “Opening an office in Abu Dhabi is an important milestone for us in this region and demonstrates the strategic importance of Abu Dhabi to our business. The office will further strengthen our ties to the local business and financial community, and enable us to help these clients meet their needs.”
JP Morgan Worldwide Securities Services (WSS) is a securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue.
A division of JPMorgan Chase Bank, WSS leverages the firm’s scale, technology and industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $5.1 trillion in funds under administration.