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JPMorgan to continue expansion in Hong Kong amid challenges


JPMorgan reaffirms its commitment to Hong Kong, planning to continue its century-long business and banking operations in the city, despite recent challenges. Daniel Pinto, the bank’s President and COO, emphasised during an interview with the South China Morning Post newspaper in Hong Kong the importance of navigating business cycles and the bank’s strategy of steady engagement rather than abrupt changes. With assets of USD2.6tr and a significant presence in Asia, where China accounts for half of its business, JPMorgan intends to keep expanding, especially in asset management. The bank, which began its Hong Kong operations in 1924, sees China’s growing economy as a source of opportunities and aims to contribute to the development of its financial markets.

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