J.P. Morgan hopes to do well through Abu Dhabi branch

JP-MorganThe US bank J. P. Morgan has inaugurated its new office in Abu Dhabi this week for pushing its operations in the United Arab Emirates. The lender is expected to make optimum use of the location which is a business, political and financial hub of the UAE.

Asif Raza, Middle East and North Africa head of J. P. Morgan treasury and securities services hailed its decision to open new office in the city for serving the region better and to effectively respond to the improving conditions of the financial market. The city already houses leading international banks including Citi, Credit Suisse, HSBC, Morgan Stanley and UBS.

Raza added, "The office will further strengthen our ties to the local business and financial community, and enable us to help these clients meet their needs."

J. P. Morgan already has significant presence in the Middle-East region through its offices located in Bahrain, Egypt, Lebanon and Saudi Arabia. His Excellency Khalil Mohammed Sharif Foulathi, the Chairman of the Central Bank of UAE hoped that opening of new branch in Abu Dhabi would make it to handle its corporate and institutional clients in a better way.