J.P. Morgan expands in Middle East with Abu Dhabi office opening

J.P. Morgan has expanded its reach in the Middle East, opening a new office in Abu Dhabi in an event attended by some of the biggest names in finance in the region, including the Central Bank of UAE chairman, Khalil Mohammed Sharif Foulathi.

The bank has had a presence in the region for more than half a century, when The Chase Manhattan Bank – which merged with J.P. Morgan in 2000 - opened an office in Beirut, Lebanon.

Murad Megalli, CEO of the Middle East, North Africa, Turkey and Central Asia region at J.P. Morgan, commented: “Our local presence combined with J.P. Morgan's unique product breadth and industry expertise will be essential to serve our clients with world-class financial services.”

Asif Raza, head of J.P. Morgan Treasury & Securities Services in the Middle East North Africa region, added: “Opening an office in Abu Dhabi is an important milestone for us in this region and demonstrates the strategic importance of Abu Dhabi to our business. The office will further strengthen our ties to the local business and financial community, and enable us to help these clients meet their needs.”