JP Morgan has hosted an opening ceremony for its new office in Abu Dhabi.

JP Morgan has done business in the Middle East for more than 50 years since The Chase Manhattan Bank – a forerunner of today’s JP Morgan – opened an office in Beirut.

The bank marked the opening with a reception attended by His Excellency Khalil Mohammed Sharif Foulathi, Central Bank of UAE chairman, government officials and clients. It was hosted by Heidi Miller, chief executive of JP Morgan treasury & securities services, and attended by senior JP Morgan executives.

Asif Raza, head of JP Morgan treasury & securities services in the MENA region, comments: “Opening an office in Abu Dhabi is an important milestone for us in this region and demonstrates the strategic importance of Abu Dhabi to our business. The office will further strengthen our ties to the local business and financial community, and enable us to help these clients meet their needs.”