JPMC Increases Focus on China, Hires Five Research Analysts

JPMorgan Chase & Co has announced it has hired five research analysts for its industrial sector. The new hires join the American multinational investment bank to increase its coverage of Chinese listed companies.

The new hires join the bank from some of its rivals, including Morgan Stanley, Nomura, and UBS. The latest employees to join the bank are Billy Feng, Patrick Xu, Han Fu, Qian Yao, and Lei Mu.

The news comes from a report from Reuters, which is based on an internal memo which the company has seen. According to the report, a spokeswoman for JPMorgan in Hong Kong has confirmed the content of the memo.

Billy Feng joins JPMorgan from UBS as China technology analyst. Ex-Nomura employee, Patrick Xu has been appointed as China industrial analyst. Han Fu is an ex-employee of Morgan Stanley and will be the China basic material analyst.

Qian Yao also joins the Wall Street bank as China consumer analyst. Finally, Lei Mu is now the China energy analyst for JPMorgan, leaving Chinese refining giant Sinopec Corp.

Investment in China

Large banks have been investing more resources into their China Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term research coverage in recent months. This is because China-listed shares have been included in the U.S. index publisher MSCI’s emerging-markets benchmark

As a result, banks and brokerages have been realizing the importance of the country and have begun widening their product offering to give traders access to China-listed shares.

Certain investment banks have come into the spotlight for their hiring practices in China. Earlier this month, Finance Magnates reported that the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) announced that Credit Suisse Group AG would pay $77 million in fines.

This is because the Zurich-based bank was charged with obtaining business in the Asia-Pacific region by hiring people connected to influential Chinese officials.

However, Credit Suisse was not alone in its actions. The bank is the latest in a long line of Wall Street firms and US companies caught breaching the anti-bribery law in its Chinese hiring practices.

In 2016, JP Morgan Chase received a fine of $264 million from authorities. The fine came after regulators found the bank had a spreadsheet which linked particular hires to increased revenue.