A technology giant that provides automation and industrial solutions to clients in several countries.
The company launched an RFP in mid 2015 which sought full local and cross-border cash management at the best cost and with best-in-class service. The request encompassed both receivable and payable banking solutions, bank systems support and technology available to improve and standardize process flows.
Brazilian companies are allowed to keep 100% of export proceeds abroad (only restricted segments are allowed to hold foreign currency accounts domestically). Funds can be used to pay offshore obligations, acting therefore as a natural FX hedge. Due to legal and tax restrictions, this account cannot be part of a global multi-currency sweep structure.
This deal was a team work experience, demanding commitment from both sides once J.P. Morgan was centralizing full local and offshore cash management services. System stability and premium client service were main demands and client is highly satisfied.
J.P. Morgan is the marketing name for the Treasury Services business of JPMorgan Chase Bank, N.A. and its affiliates worldwide.
JPMorgan Chase Bank, N.A. Member FDIC.
The products and services described in this document are offered by JPMorgan Chase Bank, N.A. or its affiliates subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates.
JPMorgan Chase Bank, N.A. at its London Branch is authorised by the Office of the Comptroller of the Currency in the jurisdiction of the U.S.A. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and to limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request (Firm Reference Number: 124491)
JPMorgan Chase Bank, N.A. (Johannesburg Branch) is an Authorized Financial Services Provider (FSP No. 7795). An external company registered in South Africa with the registration number 2001/016069/10.
Registered in South Africa as a branch of a foreign bank, JPMorgan Chase Bank, N.A. and operates under a banking license and is regulated by the South African Reserve Bank.
All complaints must be directed to Compliance on email@example.com
Details of FAIS Ombud
Office of the FAIS Ombudsman
Name: The Ombud for Financial Services Providers
Postal Address: PO Box 74571, Lynnwood Ridge, 0400
Telephone number: 012 762 5000 / 012 470 9080
Facsimile number: 012 348 3447
Email Address: firstname.lastname@example.org
For Brazil: Ombudsman J.P. Morgan: 0800-7700847 / email@example.com