JP Morgan has announced it is to expand its Asia -Pacific operations at its Hong Kong base. The investment bank plans to take on an extra 700 staff to be housed in a new 11 floor office block to ensure its growth in Asia can continue. JP Morgan currently employ 18,000 people across Asia, with over 3,000 of those based in Hong Kong. In addition to the 11 storey office block proposals, a new 59 storey office block has been constructed to the east of Hong Kong in which nearly 2,000 staff are expected to be housed.
Last year saw JP Morgan become the fifth largest investment bank in the Asia-Pacific region, recording investment banking fees of $417.5 million, representing a 30 per cent growth on the $298.1 million of 2006.
With much of the globe’s financial markets suffering from the sub-prime crisis, Asia has enjoyed an excellent year, with total investment banking fees up 36 per cent in the region to $11.7 billion.
JP Morgan Plan Hong Kong Banking Expansion
JP Morgan Plan Hong Kong Banking Expansion
Fri, 11 Jan 2008
Recommended links
The Essential Banking GuideBad Credit Loan Lenders
Need Financial Advice?
Leading Savings Accounts
Top Pension Providers
Citigroup Bank Hit New Low
Rivals Prepare Revised Offers for Bank
| Banking news |
|---|
| HSBC the Latest Bank to Announce Further Write Downs - Fri, 16 May 2008 |
| Citigroup to Make Cuts to Banking Portfolio - Wed, 14 May 2008 |
| UBS to Make Banking Job Cuts - Wed, 07 May 2008 |
| More News |
