JPMorgan Chase (JPM) has moved more than 30 staff members with quantitative skills from mainland China to Singapore and Hong Kong in recent months to consolidate the team in regional hubs and be closer to the business divisions, Bloomberg reported Friday, citing people familiar with the matter.

The US bank moved about 25 to 30 staff from Beijing and Shanghai to Singapore, the people told the news agency.

About six members in its China quantitative trading and research unit were also moved to Hong Kong, one of the people told Bloomberg.

A JPMorgan spokesperson told Bloomberg that Singapore is a key hub for the bank's quantitative trading and research business and its growing Quantitative Trading and Research Center of Excellence, which operates under a global model to serve clients across the region and globally.

JPMorgan did not immediately respond to a request for comment from MT Newswires.

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