LONDON - J.P. Morgan’s Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, today announced new payables and receivables capabilities in the Baltic and Nordic regions through both urgent payments and non-urgent local ACH channels.
Corporates with customers or suppliers in these markets can now initiate and receive payments in seven additional countries. This brings the total number of European countries in which J.P. Morgan clients can transact in the domestic clearing to 20, in addition to SEPA and Multi-currency transaction services.
Commenting on the regional expansion, Alex Caviezel, head of J.P. Morgan Treasury Services in Europe, Middle East and Africa, said: “The expansion of our payables and receivables services into the Nordic and Baltic regions will help our clients undertake their Accounts Payable and Accounts Receivable activities in less familiar territories with greater confidence. The model is ideal for larger organisations based outside the Baltics or Nordics who actively trade there. The solution simplifies the task of managing multiple bank accounts and bank relationships, enabling clients to manage their funds conveniently on a London-based account.”
In addition, J.P. Morgan Treasury Services continues to invest in its global payments platform, enhancing local payments and receivables services in Italy, Switzerland and the UK. These enhancements include improved reporting, later cut-off times and enhanced local ACH connectivity.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full- service provider of innovative payment, collection, liquidity management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is the world’s largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of US$2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
Media contact: Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler@jpmorgan.com
Source: JP Morgan Chase & Co
Media contact: Juliana Wheeler, +44(0)207-325-5755, juliana.r.wheeler at jpmorgan.com
Related Press Releases
Equens and VocaLink Extend SEPA Credit Transfer Interoperability Agreement to SEPA Direct DebitsSeptember 14th, 2009 HONG KONG - Equens and VocaLink have extended their bilateral agreement to include SEPA Direct Debit (SDD) payment processing, in addition to the SEPA Credit Transfer (SCT) service already offered. Today at Sibos - the global event for the financial sector - both companies signed a Letter of Intent (LOI) on this matter.
VocaLink Opens European Centre in Amsterdam to Support its Growing Customer Base in the Benelux RegionSeptember 13th, 2009 LONDON - VocaLink, the international payments specialist, today announced the opening of its European centre in the World Trade Center, Amsterdam, in response to its growing customer base in the Benelux region. The new Dutch centre underpins VocaLink's commitment to supporting clients in their local markets, whilst recognising that payment systems must provide international capabilities.
J.P. Morgan Launches Third-Party Clearing for SmartPool and Arca Europe Trading PlatformsAugust 31st, 2009 LONDON - J.P. Morgan announced today that its GlobeClear(SM) business has been offering third party clearing and settlement services for trades executed on the SmartPool and NYSE Arca Europe trading platforms.
Bankers Almanac Expands International Payments Solution at SibosAugust 25th, 2009 LONDON - Bankers Almanac, the leading provider of reference data for international payments (www.bankersalmanac.com/addcon/products/payments.aspx), due diligence and risk assessment has further enhanced its international payments solution to help improve efficiency in the processing of cross-border and domestic transactions. Bankers Almanac's International Bank Account Number (IBAN) Search allows clients to validate IBANs through to the clearing code level and identify the issuing bank if the IBAN is invalid.
Morgan Stanley B.V.July 30th, 2009 AMSTERDAM - Morgan Stanley B.V. hereby announces that the half yearly financial report as of 31 May 2009 as expressed in article 5.25d of the Act on Financial Supervision ("Wet financieel toezicht") has been made public and is available on the Morgan Stanley website: www.morganstanley.com.
Welcome Real-time Wins Cards & Payments Award for 'Best Innovation in a Loyalty Program'June 18th, 2009 AIX-EN-PROVENCE, France - Welcome Real-time today announced that the company has been awarded the 'Best Innovation in a Loyalty Program' award in VRL's annual awards dinner at Cards & Payments Europe 2009. This award is recognized based on its partnership with Venture Infotek, India's leading transaction processing company.
Sir John Gieve Appointed as Chairman of VocaLinkMay 11th, 2009 LONDON - VocaLink, the international payment transaction specialist, today announced the appointment of Sir John Gieve as Chairman, effective 1 July 2009. He will lead the VocaLink board of directors as the company further develops and expands its business.
VocaLink Secures GBP60 Million Shareholder InvestmentMay 4th, 2009 LONDON - VocaLink, the European payment specialist and central provider of services to the UK's Bacs, Faster Payments and LINK transactions, has announced today it has received an investment of GBP60 million in equity capital from its shareholders. This new funding will strengthen its resilient services for existing clients while supporting the company's continued growth in Europe.
Federal Reserve Banks and Equens Start Strategic Partnership for Cross-Border PaymentsApril 8th, 2009 MINNEAPOLIS, Minnesota and UTRECHT, The Netherlands - The Federal Reserve Banks and Equens have signed a Memorandum of Understanding on the processing of payments from the US to Europe and vice versa. Starting in early 2010, both parties will offer banks a cost-efficient channel for processing cross-border payments in multiple currencies, including the US dollar and euro.
Nokia Invests in ObopayMarch 24th, 2009 REDWOOD CITY, California - Global leader's support represents mobile payments milestone
Obopay, Inc., the pioneering service provider for payments via mobile
phones, today announced an investment from Nokia, the world leader in mobile
communications. This investment is a resounding endorsement for Obopay's
ongoing innovation in mobile money technology.
Related News
Morgan Stanley, Mitsubishi UFJ to form 50-50 corporate financing joint ventureJuly 1st, 2009 Morgan Stanley, Mitsubishi UFJ to form finance JVTOKYO — Mitsubishi UFJ, Japan's largest bank, and Morgan Stanley said Wednesday they will form a joint venture to pursue corporate financing business in the U.S., Canada and Latin America. Mitsubishi UFJ is eager to expand its reach overseas and took a major step late last year, when it paid $9 billion for a 21 percent stake in Morgan Stanley.
Co-founder of Morgan-McClure Motorsports gets prison term for tax fraud, obstructionApril 28th, 2009 Morgan-McClure Motorsports principal gets prisonABINGDON, Va. — A federal judge in Virginia has handed an 18-month prison sentence to a co-founder of Morgan-McClure Motorsports who the government said accepted bags of cash to avoid taxes.
Mack to step down as Morgan Stanley CEO in Jan., will remain chairman; Gorman to take helmSeptember 10th, 2009 John Mack to step down as Morgan Stanley CEONEW YORK — John J. Mack will step down as CEO of Morgan Stanley in January but will continue as chairman, the investment bank announced Thursday.
Morgan Stanley to sell $3.5 billion in stock, $4 billion in notes after 'stress tests'May 8th, 2009 Morgan Stanley offers $3.5 billion in stockNEW YORK — Morgan Stanley is offering 146 million common shares for $24 each in an effort to raise gross proceeds of $3.5 billion. The company is also pricing an offering of $4 billion in bonds.
Morgan Stanley seeks to raise $5 billion in fresh capital after government stress testsMay 8th, 2009 Morgan Stanley plans $5 billion capital raiseNEW YORK — Morgan Stanley is planning to raise $5 billion after government's stress tests showed the investment bank needs more capital. Morgan Stanley said Thursday it has begun a $2 billion public offering of common stock.
ICC chief says Pak team will draw great support in EnglandMarch 21st, 2009 SYDNEY - International Cricket Council President David Morgan has assured that the Pakistani cricket team will receive great support in England if they play their "home" matches there.Pakistan seem to want to play in England and there will be a great deal of support if they want to play in England or Wales with a large number of Pakistani spectators residing in both these countries," The News quoted, Morgan, as saying. Morgan said that the important thing was not to reduce the volume of international cricket from Pakistan, and the other countries were also very keen to support this idea.
Morgan Stanley to buy Shanghai complex from Chinese developer for $358.5MAugust 18th, 2009 Morgan Stanley to buy Shanghai complex for $358.5MNEW YORK — Chinese developer SOHO China Ltd. has agreed to buy a multistory office and retail complex in Shanghai, The Exchange, from Morgan Stanley's real estate fund for about $358.5 million.
Morgan Stanley's president of Middle East and North Africa ops, Georges Makhoul, leaving bankSeptember 9th, 2009 Morgan Stanley's Makhoul is leaving firmNEW YORK — Morgan Stanley said Wednesday its president of Middle East and North Africa operations, Georges Makhoul, is leaving the bank. Habib Achkar will take on the role of regional manager for the New York-based bank's Middle East and North Africa operations.
AIG clients got $50 bn in bail-out cash: ReportMarch 8th, 2009 NEW YORK - Business partners of the insurance giant AIG have received some $50 billion in payments, since the firm was bailed out by the US government in September 2008, the Wall Street Journal reported Saturday. Beneficiaries of bail-out funds from the firm number some two dozen, including the Goldman Sachs group and Germany's Deutsche Bank AG, the paper said.
A. Shulman expands capacity at Mexican plastics plant by 5 million poundsSeptember 21st, 2009 A. Shulman expands capacity at Mexican plantAKRON, Ohio — A. Shulman Inc.
