JP Morgan is planning to offer prime brokerage services in Asia as early as next year, Global Custodian understands.
The bank already has people on the ground in Hong Kong servicing the activities of US clients investing in Asia and plans to gradually extend this service to Asian clients for cash and synthetic products. It will offer these services under an independent franchise.
The bank has been hiring people for the business, which will be headed up by Asia head of Prime Brokerage Neil Hounslow.
J.P. Morgan opened a fully independent prime brokerage platform in Europe in June last year.
The bank declined to comment.
(JDC)