New York-based JPMorgan’s commercial banking arm is reportedly expanding its global reach with its entry into Singapore.
JPMorgan’s commercial banking arm is entering the Singapore market this year as part of broader plans to expand globally. The US lender aims to quadruple its commercial banking clients and will have a presence in 28 countries by the end of 2023.
«Companies can’t outgrow us,» said JPMorgan head of corporate client banking international Andrew Kresse in a «Reuters» report.
«That’s one of the reasons we’re so excited about continuing to build out our innovation economy business in markets like Paris, London, Tel Aviv and Sydney-because we can be part of the journey with them from pre-revenue to IPO.»
Headcount Growth
Since 2019, JPMorgan’s commercial banking business began branching outside the US and Canada to Europe and Asia with the hire of 175 bankers to reach a total of 200 by end-2023.
The US lender is also expanding its focus on early stage companies by hiring more than a hundred bankers to serve sectors such as technology, e-commerce and life sciences.
