J.P. Morgan sets up new business unit for midcap companies

Asia's Tech News Daily

Ex- Standard Chartered Bank Korea executive to head CCBSI unit

By Yi Whan-woo

J.P. Morgan said Thursday it launched a new business unit, Corporate Client Banking and Specialized Industries (CCBSI), in Korea to offer midcap companies access to leading financial services, a strong global network and market expertise.

J.P. Morgan sets up new business unit for midcap companies

Min Kim, former Divisional Head of International Corporates at Standard Chartered Bank Korea / Yonhap

The unit comes as part of the American investment bank’s strategy to increase its “footprint outside of the United States” in commercial banking and cater to midcap companies in targeted countries.

Korea will be the 19th country to host the Corporate Client Banking and Specialized Industries unit.

The unit will be led by Min Kim, a banking expert with more than 20 years of experience, including the last four years as the divisional head of international companies at Standard Chartered Bank Korea.

Kim and his team will be tasked with supporting clients’ needs for treasury management, credit and investment banking needs.

“Korea is a very important market. We’ve been in Korea for more than 50 years and have deep local knowledge, global insights, and best in-class solutions which uniquely position us to support Korea’s midcap companies and serve clients’ complex and cross-border needs for the long term,” J.P. Morgan Korea CEO Park Tae-jin said. “We will continue to invest in our domestic platform and remain dedicated to bringing J.P. Morgan’s global financial solutions and expertise to local corporates.”

Pravin Advani, Head of CCBSI Asia-Pacific at J.P. Morgan, called Korea one of the key markets for midcap companies with great growth opportunities as they “look beyond their domestic market to grow.”

“We’re investing in our business and our onshore capabilities to deliver the full breadth of the firm to help local midcap corporations realize their global growth ambitions,” Advani said.

The services offered by J.P. Morgan here include brokerage and asset management. In early 2019, the company listed Korea as its newest market for CCBSI global expansion.

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