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JPMorgan expands commercial bank to Singapore and Israel


In a strategic expansion move, JPMorgan Chase’s commercial bank is poised to penetrate Singapore and Israel this year, aiming to cater to small and mid-size enterprises. This move will extend the bank’s presence to 28 countries by the end of 2023. Andrew Kresse, the Head of Corporate Client Banking for International at JPMorgan, emphasised that the company’s size and reach enable it to grow alongside its clients, from pre-revenue to IPO. This expansion forms part of a global push that has seen the bank increase its workforce by 175 bankers since 2019, with plans to cross the 200 mark by year-end. The bank’s ambitious goal is to quadruple its commercial client base while working towards a revenue target of US$1 billion.

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