J.P. Morgan has appointed Hans Janssens as its head of Treasury & Securities Services (TSS) in Japan.
Janssens, who most recently spent 4 years as CFO for J.P. Morgan in Japan, will be responsible for the financial performance of TSS Japan, running the day-to-day operations of the Treasury Services (TS) franchise while overseeing the Worldwide Securities Services (WSS) business, which will continue to be headed by Fumihiko Yonezawa, head of WSS Japan.
“The TSS Japan franchise is a core component of our regional footprint, and it is a market that continues to demonstrate strong growth potential,” says Thomas DuCharme, CEO of J.P. Morgan TSS in Asia Pacific. “With Hans at the helm, I am confident that we will continue to grow our business by leveraging the reach of our global platform with the depth of our local market expertise, as we continue to deliver seamless and integrated client-focused solutions.”
Prior to his CFO role, Janssens worked as an interest rates derivatives trader, and later took on risk control positions in the investment bank followed by the role of deputy CEO of a joint venture operation between J.P. Morgan and a Japanese insurance company.
“We see opportunities for J.P. Morgan in Japan as one of the leading foreign financial institutions in the country,” says Christopher Harvey, senior country officer for J.P. Morgan’s operations in Japan.
J.P. Morgan says Janssens’ appointment represents an aggressive Asia Pacific growth plan for its TSS business, with the firm expanding its local on-ground presence, enhancing its range of products and elevating its client servicing capabilities. Year-to-date, J.P. Morgan TSS says it has hired an additional 500 financial professionals in Asia Pacific to broaden its regional coverage, including 20 trade finance specialists in the region.
J.P. Morgan recently announced it was reentering the sub-custody business it effectively left some years ago, although it has not yet stated in which markets it will establish a presence. But if J.P. Morgan’s trend toward Asia Pacific growth continues, look for it to establish an expanded sub-custody offering in the region.