J.P. Morgan establishes new legal entity in ADGM

J.P. Morgan today announced the establishment of J.P. Morgan Middle East Limited, licensed by the Abu Dhabi Global Markets Financial Services Regulatory Authority, which will enable the firm to provide a more complete suite of J.P. Morgan products and services to clients in Abu Dhabi.

“J.P. Morgan is delighted to mark this 10-year milestone with the further establishment of our ADGM entity,” said Declan Hegarty, senior executive officer, J.P. Morgan Middle East Limited and general manager, Abu Dhabi. “We will continue to work closely with our clients to support their continued growth with best advice and financing. Our aim is also to deliver the latest in technology innovation, to provide better visibility and further efficiency gains, as companies in Abu Dhabi continue to transform and enhance their businesses.”

J.P. Morgan has been servicing clients in Abu Dhabi for over four decades and has been physically present in the Emirate for 10 years through a Representative office, regulated by the UAE Central Bank.

“We are proud of the strong relationship we have built with the UAE, and we will continue to invest in this thriving economy. Abu Dhabi continues to be a key market for us and the new legal entity in the ADGM further highlights our commitment to our presence in the UAE,” said Majed Al Mesmari, senior country officer and head of investment banking for the UAE.

The local Abu Dhabi Representative office operates as a liaison with J.P. Morgan’s global offices. The ADGM entity will allow the bank to provide its full set of product offerings directly to clients in Abu Dhabi, such as Corporate Banking, Security Services, and Wholesale Payments including Treasury Services and Trade.

“We look forward to engaging even more closely with our clients in Abu Dhabi through this important addition to our local franchise. The ADGM provides an excellent framework for J.P. Morgan to offer integrated services that enable clients to run their businesses seamlessly. We aim to be the provider of choice for clients around the world, and we are excited to bring our valued clients in Abu Dhabi the solutions to help them succeed in an era of digital transformation and evolving customer expectations,” said Ali Moosa, vice-chair of Wholesale Payments. “

— business@khaleejtimes.com