J.P. Morgan establishes local office in Doha
Feb 22, 2011
London - Doha, February 21, 2011 - J.P. Morgan announced today the establishment of a new office in Doha, Qatar, further enhancing the reach and capabilities of its successful franchise in the Middle East.
The office, which will be supported by J.P. Morgan’s industry and product teams worldwide, will provide local clients with on the ground presence and access to an array of J.P. Morgan’s products and services, including investment banking and treasury and securities services products. J.P. Morgan will mark the occasion on Tuesday, 22nd February with a reception to be attended by senior government officials and clients. The event will be hosted by Heidi Miller, President of International at J.P. Morgan, Emilio Saracho, Head of EMEA Investment Banking and several other J.P. Morgan executives.
Heidi Miller said: “We are delighted to announce the establishment of a new office in Doha. J.P. Morgan has ambitious international expansion plans and being able to extend more products and services locally to clients in the Middle Eastis a top priority for our firm.”
The establishment of a branch marks a time of great momentum for J.P. Morgan’s activities in Qatar. The bank was recently involved in a number of landmark transactions including the State of Qatar’s US$7.0bn triple tranche 144A/RegS bond offering; Qatar Telecom’s US$1.5bn dual-tranche bond offering. J.P. Morgan also advised Qatar Real Estate Investment Company (Alaqaria) on its merger with Barwa Real Estate Company.
Karim Noujaim, Senior Country Officer for J.P. Morgan in Qatarsaid: “J.P. Morgan has been fortunate to do business with Qatari clients for several years. We look forward to delivering the entire firm’s capabilities, including capital and innovative solutions to local clients in the years to come.”
The office, JPMorgan Chase Bank N.A. (Qatar Financial Centre Branch), is regulated by the Qatar Financial Centre Regulatory Authority (“QFCRA”), and was recently authorized to undertake regulated activities in and from the Qatar Financial Centre (“QFC”), which will enable it to arrange credit facilities, deals in investments and the provision of custody services, and to advise on deals in investments.
J.P. Morgan has a long standing presence in the Middle East which commenced in the 1930s when its heritage firms helped US-based companies with their operations in Saudi Arabia In 1956, the firm opened an office in Beirut followed by an office in Bahrain in 1972, Cairo in 1975, Riyadh in 2006, Dubai in 2007 and Abu Dhabi in 2010.