J.P. Morgan sets up UAE-based regional entity under ADGM license

By Arya M Nair, Intern Reporter
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J.P. Morgan, a global leader in financial services, has established J.P. Morgan Middle East Limited, licensed by the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority.

It will enable the firm to provide a more comprehensive suite of J.P. Morgan products and services to clients in Abu Dhabi. J.P. Morgan Middle East Limited has been serving clients in Abu Dhabi for over four decades and has been physically present in the Emirate through a representative office authorized by the UAE Central Bank for the past ten years.

Mr. Declan Hegarty, senior executive officer of J.P. Morgan Middle East Limited and general manager of Abu Dhabi said, “J.P. Morgan is thrilled to honor this 10-year milestone with the further development of our ADGM organization.  As organizations in Abu Dhabi continue to develop, our goal is to give the most up-to-date technological innovation, better visibility, and more efficiency.”

The ADGM business will enable the bank to deliver its full suite of products directly to Abu Dhabi clients, including Corporate Banking, Security Services, and Wholesale Payments, including Treasury Services and Trade.

“We are proud of our solid partnership with the UAE, and we will continue to invest in its booming economy. Abu Dhabi continues to be a significant market for us, and the new legal entity in the ADGM further shows our commitment to our position in the UAE,” said Mr. Majed Al Mesmari, senior country officer and head of investment banking for the UAE.

Abu Dhabi Global Market is an international financial center that gained global recognition for its robust, progressive and responsive business-friendly ecosystem. As a catalyst of growth, ADGM delivers value to its clients and its peers and contributes to Abu Dhabi’s ambitious growth plan and strategy.

Recently, FinaMaze, a hybrid asset manager regulated by the ADGM, unveiled two new themes of cryptocurrency and inflation protection for professional investors.

Related: Crypto assets platform BitOasis gains regulatory approval from ADGM

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