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BRANCH BANKING | Staff Reporter, China
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J.P. Morgan Chase Bank to open Suzhou branch

The Suzhou arm is the JP Morgan's sevent branch in mainland China. 

 

In a release by J.P. Morgan Chase Bank (China), the firm’s locally incorporated bank (LIB) in China announced the official opening of its Suzhou  branch, the bank’s seventh branch in mainland China. A ceremony was held in Suzhou to  celebrate the grand opening of the branch.

The opening of the Suzhou branch is part of J.P. Morgan’s long term strategy to expand the  bank’s footprint in China. It will support the rapid development of businesses in Suzhou and the Yangtze River Delta region by providing a broad range of first-class RMB and foreign currency financial products and services across cash management, trade finance, liquidity management, risk management and foreign exchange.

Officiating at the opening ceremony, Zili Shao, Chairman and Chief Executive Officer of J.P. Morgan China, said the Suzhou branch opening demonstrated J.P. Morgan’s commitment to providing a first class service to clients in China. “Suzhou is a dynamic economic and industrial center in the Yangtze River Delta region, reflected by the numbers of global MNC clients who are headquartered here. We feel honored to be the first U.S. bank to establish a branch in Suzhou," Greg Guyett, Chief Executive Officer of J.P. Morgan’s Global Corporate Bank, said.

Success in China is key to J.P. Morgan’s client-focused international expansion strategy. Eddie Zhu was appointed as Suzhou branch manager. Zhu has a wealth of experience in the banking industry developed over 14 years.  

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