By Kimberley Kao
JPMorgan has appointed the chief executive of Chinese alternative asset manager CDH Investments as its new vice chair of Asia Pacific, marking the latest major hire by the U.S. bank as it seeks to expand its business in the region.
Alex To, who has over three decades of experience in banking and alternative asset management, will be based in Hong Kong and report to Sjoerd Leenart, chief executive of JPMorgan Asia Pacific, according to a memo seen by The Wall Street Journal.
Before leading Beijing-based CDH Investments, To was co-head of Asia Pacific Investment Banking at Bank of America and previously served as chairman of China Investment Banking at Morgan Stanley.
JPMorgan has been strategically hiring across Asia Pacific in recent months--including in Australia, Greater China, Japan and Southeast Asia--as it looks to defend its investment banking position and grow its market share, the memo said.
The bank is also expanding its corporate banking team in Asia and plans to increase headcount by 10% by year-end.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
April 29, 2025 02:39 ET (06:39 GMT)
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