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J.P. Morgan in Nigeria
Local expertise. Global resources. Our commitment to Nigeria.
We are committed to our business in Sub-Saharan Africa, and we are one of the most prominent financial services firms in the country. From our office in Lagos, we provide clients with products and services from across our asset management, private banking and corporate and investment bank lines of business.
J.P. Morgan has operated in Europe for nearly 200 years and has a sophisticated local market presence across Europe, the Middle East and Africa (EMEA). Within the region, J.P. Morgan has an unparalleled client base and leadership across the spectrum of financial services products. The regional head office in London is complemented by a strong regional footprint, with offices in all major financial centers.
Globally, through the JPMorgan Chase Foundation, we make philanthropic investments in cities where we have major operations, assisting those at a disadvantage by helping them build better lives for themselves, their families and their communities. Across EMEA, the firm focuses its investment and attention on three pillars: Economic Development, Financial Empowerment and Workforce Readiness.
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries. As announced in early 2018, JPMorgan Chase will deploy $1.75 billion in philanthropic capital around the world by 2023. We also lead volunteer service activities for employees in local communities by utilizing our many resources, including those that stem from access to capital, economies of scale, global reach and expertise.
Our Local History
With a legacy dating back to 1799, we have a history of demonstrating leadership during times of both economic growth and financial instability.
In July 1960, Chase Manhattan Bank received a license from the Nigerian government to engage in commercial banking in the country. Subsequently, the Chase International Investment Corporation, a Chase Manhattan subsidiary, acted as the lead partner in organizing Nigerian Textile Mills, the first major private industrial project with an American interest in Nigeria. Chase Manhattan opened a branch in Lagos, Nigeria, the following year, offering a full range of commercial banking services.
In 1975, Chase Manhattan formed the Chase Merchant Bank Nigeria Ltd. which began operations in Lagos. At the same time, Morgan Guaranty Trust Company of New York, another predecessor firm, joined three local financial institutions to form Icon Ltd., a merchant bank in Lagos.
In 1982, Chase Manhattan opened a representative office in Nigeria. By 1987, both Morgan Guaranty and Chase had withdrawn their interests in the merchant bank ventures.
Today, J.P. Morgan has a subsidiary in Lagos, Nigeria, that operates as a representative office.
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