DBS Bank announces treasury services partnership with JPMorgan
Date: Nov 06, 2012
Categories: Transaction Banking
Keywords: DBS Bank, JPMorgan
Singapore, November 5th 2012 - DBS Bank and J.P. Morgan today announced a landmark alliance programme that significantly expands DBS’ cash management capabilities across Asia.
By partnering with J.P Morgan, DBS is now the first and only Asian bank with capabilities to provide regional treasury services across the entire region.
In the recent Asiamoney Cash Management Poll 2012, DBS was recognised as one of the top five global cash management banks across Asia in the key markets of Singapore, Hong Kong, China, Indonesia, India and Taiwan. This agreement further extends DBS’ reach into Australia, Japan, Korea, Malaysia, Philippines and Thailand, resulting in a comprehensive coverage that no other Asian bank can match.
This alliance benefits corporates with pan-Asian ambitions, enabling them to access comprehensive cash management offerings across a wider Asian geography, and to better manage their cashflow across the entire organisation.
DBS and J.P. Morgan have had a history of collaboration, both in the United States and Asia, through which both have established mutual respect for each other’s organisation and quality of services offered.
“This landmark agreement cements our partnership and creates new opportunities for both banks to better serve and meet customers’ growing business ambitions in Asia. A win-win situation, DBS can now offer our corporate customers a full range of treasury centre capabilities across 12 countries in Asia, while J.P. Morgan has an anchor partner to expand their world-class services to institutional clients,” said Mr Tom McCabe, Group Head of Global Transaction Services at DBS.
Re-disseminated by The Asian Banker