HO CHI MINH CITY, 12 September, 2012 – J.P. Morgan Treasury Services today announced the expansion of its global escrow services to Vietnam, providing clients with an additional risk management solution across financial transactions.
With increased demand from clients in Vietnam seeking escrow services to support a range of capital market flows, including mergers and acquisitions, trade and construction, J.P. Morgan is well placed to help them meet their growth plans.
Abdul Raof Latiff, Head of Treasury Services for J.P. Morgan in ASEAN said: “This is an important addition to our growing suite of solutions in Vietnam, demonstrating another step forward in our ongoing commitment to expanding our regional banking capabilities and offering integrated treasury management services to our clients in the region.”
Owen Ellsworth, Asia Escrow Product Manager, J.P. Morgan, said: “With our global expertise, strong balance sheet and local market knowledge, we are able to provide our clients with greater certainty, security and comfort through the transaction lifecycle, helping them reduce counterparty and/or transaction risk. Escrow is a key component of best practice risk management in terms of financial transactions.”
J.P. Morgan provides escrow services in major foreign currencies as well as the Vietnamese Dong. Escrow is a legal arrangement involving a third-party intermediary and two counterparties to a financial transaction. Assets are held by the escrow agent and delivered upon fulfillment of conditions as set out and agreed in the escrow arrangement.
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.