JP Morgan Appoints a New CEO in China
American Investment Bank, JP Morgan Chase has appointed Mark Leung as the new chief executive officer for its China's business. As per banks statement, it is also seeking to create a securities company in China and plans to take a majority stake in its local fund management.
Mark Leung who has been serving the bank for past 21 years will manage onshore and offshore activities in the country. The veteran began his career in rates derivatives trading and has previously held roles in credit hybrids and equity derivatives.
The new appointment will happen after Zili Shao stepped down to become the bank’s vice chairman in April 2014.
CEO Jamie Dimon said,
Our investment in China is a commitment to bring the full force of JPMorgan Chase and our resources to the country. We wil...