JPMorgan opens South Korea commercial banking office

Photo: Bloomberg

JPMorgan Chase & Co has opened a commercial banking office in South Korea, the bank said on Thursday as its two-year international expansion has helped it gain major corporate clients.

Starting in 2019, JPMorgan sought to establish a commercial banking presence in 19 countries outside the United States and Canada.

“We’ve been successful in every country we’ve been to in identifying and landing corporate clients,” Andrew Kresse, head of the commercial bank’s corporate client banking international group, told Reuters. “Some are like hidden champions. They may not be recognisable to the lay person but they have a big presence in (their country).”

The bank’s strategy has been to hire local commercial bankers in countries where it already has a presence and to target mid-sized companies, often the subsidiaries of larger corporations that might work with the investment bank.

JPMorgan‘s expansion into Europe led to its commercial bankers playing a part in the initial public offering for the French music distributor Believe SA, a green bond transaction for the Italian energy group Falck Renewables SpA and a convertible bond transaction for the Dutch biotech company Pharming Group NV.

JPMorgan has been in South Korea for more than 50 years. Its new office will have eight to 10 bankers led by Min Kim, who previously worked as divisional head of international corporates for Standard Chartered Bank Korea.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.