New York, April 24, 2012 - J.P. Morgan today announced that Jeff Urwin, Head of Global Investment Banking Coverage, Capital Markets and Mergers & Acquisitions, will take on the additional role of CEO of Asia Pacific, based in Hong Kong. Urwin will be responsible for overseeing all of J.P. Morgan's strategic activities in the region, along with his current global banking responsibilities.
This is the first time J.P. Morgan's global head of investment banking will be based in Asia Pacific. He will relocate to Hong Kong from New York in May and continue to report to Jes Staley, CEO of the Investment Bank.
"Jeff is a proven and trusted leader, and is highly respected by clients and colleagues around the world," said Staley. "Basing our global head of investment banking in Asia Pacific further cements our ongoing commitment to the region and its importance to our global franchise."
Urwin oversees an investment banking franchise that has consistently maintained top positions around the world. At the end of the first quarter, J.P. Morgan ranked first in global fees; global debt, equity and equity-related; global announced M&A, and global loan syndications, according to Dealogic.
Urwin will build on the successes of Gaby Abdelnour, the current head of Asia Pacific, who announced in March that he would be leaving the bank this summer after 14 years with the firm. Over the past six years, J.P. Morgan's Asia Pacific business has doubled in size, tripled its net earnings and built out its capabilities. The bank has also executed strategic initiatives in China, including the establishment of a securities joint venture with First Capital Securities Co. Ltd., setting up a locally incorporated bank and opening a series of new branch offices in the country.
Prior to his global banking role, Urwin was Co-Head of Investment Banking for North America. Before joining J.P. Morgan, he was Co-Head of Global Investment Banking at Bear Stearns. Earlier in his career, Urwin was Head of Global Emerging Markets for Lehman Brothers. He is currently a member of JPMorgan Chase's firm-wide Executive Committee, the Investment Bank Operating Committee and the International Steering Committee. In addition, he serves on the Board of Directors for the JPMorgan Chase Foundation.
About J.P. Morgan
J.P. Morgan is the investment banking arm of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the World's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan.com is available at www.jpmorgan.com