FE Report (October 05, 2010)
Executives of JP Morgan, one of the top financial institutes in US, are willing to contribute more to Bangladesh economy as they recognise its economic potential which has been growing over six per cent during the last seven years.
"This is an encouraging factor which would help J P Morgan's further involvement in Bangladesh's economic development," Kalpana Morparia, chief executive officer for South Asia and India of J.P. Morgan said at a press meet at Westin Hotel in the city on Monday.
The press conference was organised to announce formal launching of its representative's office in the country to provide financial institutes with enhanced banking service backed by its innovative suite of global solution.
The new representative office is part of its aggressive Asia Pacific growth strategy. The JP Morgan Treasury and Securities Services business, which comprises the treasury services and worldwide securities services franchises, provides solutions to corporate and institutional clients across the region.
JP Morgan's Treasury Services business is a full-service provider of innovative cash management, trade, liquidity, commercial card and escrow services-specifically developed to meet the challenges that the treasury professionals face today.
The treasury services is one of the world's largest providers of treasury management services and a division of JP Morgan Chase Bank, NA., is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries.
"We have opened up our representative office in Bangladesh and this is a first step to have a full fledged office in this country," Morparia informed the press briefing.
The new operation will be headed by Sazzad Anam, head of financial institutions, Bangladesh, JP Morgan Treasury Services.
David A Wisebrod, Managing Director Treasury and Security Services-Risk Management, J P Morgan, Simon Jones, regional executive, Asia Pacific, J.P. Morgan Treasury Services, Rajiv Jain, Managing Director, Treasury and Security Services, Southeast Asia, J P Morgan were also present at the press conference.
While talking to journalists Simon Jones said, "We are delighted to have deepened our presence in Bangladesh, a market which represents a truly important part of our Asia Pacific growth strategy. Our global platforms and regional presence, combined with our experienced local executive team, leave us well placed to better support our domestic clients."
Kalpana Morparia said that the enhanced on-ground presence was a logical step in supporting local clients.
"J.P. Morgan has been working with clients in Bangladesh for almost 40 years, and we look forward to supporting the country's future economic development. Our in-country executives bring to the table significant experience within the Bangladesh market, and they possess a strong understanding of our clients' requirements on a day-to-day basis," Kalpana Morparia further added.
Meanwhile, David A Weisbrod, the senior vice president (SVP) of JP Morgan called on Finance Minister AMA Muhith at the Bangladesh Permanent Mission in New York last week.
Executives of JP Morgan, one of the top financial institutes in US, are willing to contribute more to Bangladesh economy as they recognise its economic potential which has been growing over six per cent during the last seven years.
"This is an encouraging factor which would help J P Morgan's further involvement in Bangladesh's economic development," Kalpana Morparia, chief executive officer for South Asia and India of J.P. Morgan said at a press meet at Westin Hotel in the city on Monday.
The press conference was organised to announce formal launching of its representative's office in the country to provide financial institutes with enhanced banking service backed by its innovative suite of global solution.
The new representative office is part of its aggressive Asia Pacific growth strategy. The JP Morgan Treasury and Securities Services business, which comprises the treasury services and worldwide securities services franchises, provides solutions to corporate and institutional clients across the region.
JP Morgan's Treasury Services business is a full-service provider of innovative cash management, trade, liquidity, commercial card and escrow services-specifically developed to meet the challenges that the treasury professionals face today.
The treasury services is one of the world's largest providers of treasury management services and a division of JP Morgan Chase Bank, NA., is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries.
"We have opened up our representative office in Bangladesh and this is a first step to have a full fledged office in this country," Morparia informed the press briefing.
The new operation will be headed by Sazzad Anam, head of financial institutions, Bangladesh, JP Morgan Treasury Services.
David A Wisebrod, Managing Director Treasury and Security Services-Risk Management, J P Morgan, Simon Jones, regional executive, Asia Pacific, J.P. Morgan Treasury Services, Rajiv Jain, Managing Director, Treasury and Security Services, Southeast Asia, J P Morgan were also present at the press conference.
While talking to journalists Simon Jones said, "We are delighted to have deepened our presence in Bangladesh, a market which represents a truly important part of our Asia Pacific growth strategy. Our global platforms and regional presence, combined with our experienced local executive team, leave us well placed to better support our domestic clients."
Kalpana Morparia said that the enhanced on-ground presence was a logical step in supporting local clients.
"J.P. Morgan has been working with clients in Bangladesh for almost 40 years, and we look forward to supporting the country's future economic development. Our in-country executives bring to the table significant experience within the Bangladesh market, and they possess a strong understanding of our clients' requirements on a day-to-day basis," Kalpana Morparia further added.
Meanwhile, David A Weisbrod, the senior vice president (SVP) of JP Morgan called on Finance Minister AMA Muhith at the Bangladesh Permanent Mission in New York last week.
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