JP Morgan is continuing its escrow service expansion in Asia Pacific by launching its capabilities in South Korea.
The bank’s escrow services help clients mitigate risk associated with a range of critical business transactions such as mergers and acquisitions, initial public offerings, import and export payments, collateral trusts for reinsurance, and construction project funding.
Acting as an independent third party, JP Morgan holds assets in escrow and disburses them when a performance or commitment is delivered upon. The service also includes document preparation, which can be customised to meet the specific needs of a transaction.
The bank already offers escrow services in Australia, Brazil, China, Hong Kong, India and Singapore, the United Kingdom and the United States.
“JP Morgan’s escrow services have been very well received in the Asia Pacific region. We remain focused on serving the evolving needs of our clients and helping them close their transactions quickly, accurately and securely through the use of Escrow accounts,” comments Rocky Motwani, escrow and bankruptcy services global executive for JP Morgan treasury services.
Linda McLaughlin-Moore, managing director, Asia Pacific product and delivery executive at JP Morgan treasury services adds: “Being able to offer escrow services to our clients in South Korea helps us strengthen our in-country treasury management offering. Our clients value the depth and breadth of our services and our ongoing investments in the region. We will continue to build on our integrated service model by investing in our business and by growing with our clients.”
In South Korea, JP Morgan treasury services recently launched its liquidity management services with multi-bank sweep capabilities, and also enhanced its domestic cash management capabilities with a new Korean language internet banking platform for fund transfers. The platform enables JP Morgan's clients to maximise their working capital, increase their efficiency ratios, and mitigate counterparty risk.
Reader Comments