J.P. Morgan consolidates Asia Pacific FI leadership with strong results
in latest FImetrix Asia/Pacific Rim 2012 survey
SINGAPORE, August 14, 2012 – J.P. Morgan Treasury Services is pleased to announce the appointment of Kiat Seng Lim as Head of Financial Institutions (FI) Sales for Asia Pacific, as the firm continues to strengthen its financial institution capabilities across the region.
Lim will lead the firm’s FI client and sales strategy across both the bank and non-bank financial institution sectors for cash management and trade finance across 14 markets in Asia Pacific. Prior to joining J.P. Morgan, Lim spent 12 years in Global Transaction Banking with Deutsche Bank, most recently as co-Head of Cash Management, Financial Institutions, Asia Pacific, with co-responsibility for financial institutions cash management sales in the region. Prior to Deutsche Bank, he held a variety of managerial roles spanning both cash management and trade finance in Singapore, including Banco do Brasil S.A., Union Bank of California, N.A., Royal Bank of Canada and OCBC Bank. Lim will be based in Singapore, and will report to Margaret Yao, Regional Sales Executive, J.P. Morgan Treasury Services.
Yao said: “We are delighted to welcome Kiat to the team. Kiat's client focus and proven ability is well recognized in the industry, and I am confident that he will lead our financial institutions franchise to new heights and bring the very best solutions to clients here in Asia Pacific.”
Underscoring J.P. Morgan’s global commitment to the FI sector, the firm has secured market leading results in the latest Bank-to-Bank Services to Asia & the Pacific Rim 2012 study conducted by FImetrix, an independent market research and intelligence company focusing on financial institutions.
According to the FImetrix results, J.P. Morgan ranked #1 in Commercial Payments Marketshare (USD), #1 in Treasury Clearing (USD), and #1 in Overall USD Relationships in Asia Pacific. Highlighting the firm’s global leadership within the FI client sector, clients also named the firm the top provider across a number of additional categories.
J.P. Morgan retained the #1 position for USD Institutional Satisfaction (#1 in 2010). Within this category, the firm also emerged with #1 positions in: Risk Management Assistance; Extension of Credit; Provider’s Credit Standing; Ability to Customize Products; Provides Regulatory & Industry Information and Broad Range of Products.
Pointing to the firm’s commitment to its clients, J.P. Morgan also took the #1 spot in three key areas: Most Helpful with Training on Payments and Trade; Most Helpful in Supporting U.S. Regulatory Compliance Issues and Most Helpful in Assisting KYC and Other Regulatory Compliance Issues.
Tom DuCharme, Chief Executive Officer, Asia Pacific, J.P. Morgan Treasury & Securities Services, said: “We at J.P. Morgan collectively thank all of our financial institution clients for their ongoing support of the firm and their continued recognition of our leadership across the region. The financial institutions segment is highly valued and one we continue to invest in. I’m proud of these results, and we look forward to working even harder with Kiat’s leadership to remain at the front of the field.”
About J.P. Morgan Treasury Services
J.P. Morgan’s Treasury Services business is a full-service provider of innovative cash management, trade, liquidity and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.