JPMorgan Plans to Expand Southeast Asian Banking Team
Stock Chart for JPMorgan Chase & Co (JPM)
JPMorgan Chase & Co. said it will boost its investment banking team in Southeast Asia by 30 percent to 40 percent in the next 12 to 18 months to tap growth in the region.
The New York-based company will also expand its presence in Malaysia, Indonesia and Thailand, Rob Sivitilli, head of corporate finance and mergers and acquisitions for Southeast Asia, said at a briefing in Singapore today. He declined to provide specific figures.
The volume of mergers and acquisitions in Southeast Asia is expected to increase by 20 percent to 30 percent in 2011, led by cross-border transactions in the consumer and energy sectors, Sivitilli said.
More than a dozen initial public offerings, each in excess of $300 million to $400 million, are likely in Singapore next year, Yeo Hong Ping, head of investment banking in the city- state, said at the same briefing.
Companies are also looking to issue more innovative debt products, such as the perpetual bonds sold by Noble Group Ltd. in October this year, Yeo said.
To contact the reporter on this story: Joyce Koh in Singapore at email@example.com
To contact the editor responsible for this story: Philip Lagerkranser at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.