JPMorgan Chase plans to expand its corporate banking team by about 10 per cent across Asia-Pacific this year, as its plans in the region will not be slowed down by uncertainties arising from the US-Israel war on Iran, according to a senior executive.
The hiring campaign was part of the lender’s longer-term plan, which aimed to increase its headcount in the region by 40 per cent between 2023 and 2026, said James Roddy, head of global corporate banking.
The corporate banking business in Asia-Pacific, where JPMorgan operates in 17 markets, grew by about 20 per cent last year.
“The major challenge right now is navigating the geopolitical situation in the Middle East,” Roddy said in an exclusive interview during a trip to Hong Kong and other markets in the region last week. “But for the longer term, the bank and our corporate clients expect to maintain good, healthy, progressive growth within the business.”
The firm would not slow down its investment programme owing to headwinds, he said.
“We do not think that longer-term trade diminishes for us,” he added.
