Mike McKenzie, Latin America Regional Executive, Relocates to Brazil; Bank Increases Development of In-country Solutions
NEW YORK - March 20, 2008 - JPMorgan, a full-service provider of cash management, trade finance, and treasury solutions, today announced that it is extending its local presence in Latin America. Mike McKenzie, JPMorgan's Treasury & Security Services and Treasury Services executive for Latin America, has relocated to the bank's regional headquarters in Sao Paulo. The firm also has recently hired Leonardo Lima as their new head of Treasury & Securities Services in Brazil and Treasury Services product executive for Latin America and appointed Jose Antonio Serrano executive director and country head in Mexico.
These executives will further facilitate JPMorgan's efforts to make significant investments in local products, adding in-country solutions, and promoting its industry-leading trade, logistics and payments capabilities.
"At a time when many financial institutions are reducing their investments and retrenching, JPMorgan is expanding its commitment to Latin America by placing senior leadership in-region to better support our clients," stated Melissa Moore, Treasury Services CEO for JPMorgan. "Mike has led our Latin American client sales management and treasury services business with great success. His relocation to Brazil will further extend his ability to lead our go-to-market strategy in the region. Latin America is a fast developing market and we plan to be a major player in this part of the world".
McKenzie commented, "Other U.S. and international banks manage Latin America from New York or Miami. We feel that it is extremely important for us to be in the region every day, closer to our clients and the markets."
JPMorgan Treasury Services offers payment, collection, liquidity and investment management, trade finance, logistics, commercial card and information solutions for the Latin America region. Treasury Services will offer enhancements to some of its most popular treasury management technology solutions, gearing them to specifically to meet the needs of clients doing business in Latin America.
To lead these product development initiatives, JPMorgan has made another key appointment to the region with Leonardo Lima taking over as the Treasury Services regional product executive for Latin America. Lima also will serve as the Head of Treasury & Securities Services for Brazil and will sit on the firm's managing committee for the country.
In Mexico, where JPMorgan's Treasury Services group experienced explosive growth in 2007, including the addition of staff in Monterrey to compliment the growing team in Mexico City, José Antonio Serrano was appointed Executive Director and head of Mexico. Serrano has taken an increasingly senior role in the group since joining JPMorgan in Mexico City in 2002.
About JPMorgan Treasury Services
The Treasury Services business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 36 countries, JPMorgan Treasury Services (JPM TS) is the world's largest provider of treasury management services. JPM TS is a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 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 JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
Aurora Johnson for JPMorgan,
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