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J.P. Morgan in United Arab Emirates
Local expertise. Global resources. Our commitment to the United Arab Emirates.
We are committed to our business in the United Arab Emirates. From Abu Dhabi and Dubai, we maintain key relationships with governments, financial institutions and corporations.
We have a committed and long-standing history of serving clients in the Middle East for over 100 years. Today, we operate across offices in Abu Dhabi, Beirut, Cairo, Doha, Dubai, Manama and Riyadh.
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 2020, JPMorgan Chase will deploy $2 billion in philanthropic capital around the world by 2025. 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. Below you will find major milestones from the firm’s history in United Arab Emirates. The institutions listed in the timeline are several examples of the over 1,200 predecessors that make up today’s JPMorgan Chase.
- 1969: Chase Manhattan Bank becomes a majority shareholder in the Commercial Bank of Dubai.
- 1974: The First National Bank of Chicago opens a full-service branch in Dubai. Offices open in Abu Dhabi and Sharjah the following year.
- 1976: Chase Manhattan Bank opens a representative office in Abu Dhabi.
- 1978: Manufacturers Hanover Trust Company participates in a US$200 million loan for the government of Sharjah.
- 2007: J.P. Morgan opens an office in Dubai. This office includes employees from the Investment Bank, Private Bank, and Treasury & Securities Services.
- 2009: J.P. Morgan leads a landmark US$3 billion bond offering for the Emirate of Abu Dhabi, the emirate’s first bond issue in almost two years. The offering is oversubscribed by more than twice the listed amount.
- 2010: J.P. Morgan opens an office in Abu Dhabi.
- 2014: J.P. Morgan acts as joint global coordinator on the US$1.6 billion IPO of Dubai-based shopping mall construction company Emaar Malls on the Dubai Financial Market. This deal marks the largest-ever Middle East and North Africa IPO in the real estate sector and the largest IPO in the UAE since 2007.
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