JP Morgan names Aurangzeb as head of global corporate bank in Asia

muhammad-aurangzeb

JP Morgan has named Muhammad Aurangzeb as chief executive of its global corporate bank in the Asia-Pacific region replacing Mike Brown, who is relocating to London to take up an unspecified senior position in the bank’s global corporate bank unit. JP Morgan is expanding its corporate banking services to provide balance sheet plus advisory services, which it hopes will bolster its wholesale banking business.

Based in Singapore, Aurangzeb will report to New York-based Greg Guyett, chief executive of the global corporate bank, and Gaby Abdelnour, chairman and chief executive of JP Morgan Asia Pacific, who is based in Hong Kong.

JP Morgan’s global corporate bank is a joint venture between its treasury and securities services unit and its investment bank. The New York-based bank said it almost doubled the unit’s headcount from 100 at the end of 2009 to 200 last year. It plans to expand this number to 300 staff, servicing more than 3,500 clients globally, but did not specify the date by which it wants to achieve this target.

The global corporate bank offers services including financing, risk management, working capital and cash management and investments. It sees big potential in Asia, a region where economic growth continues to surpass most parts of the world.

Aurangzeb has 25 years of experience in banking, gained through senior positions in Asia Pacific and worldwide. Before joining JP Morgan he was with the Royal Bank of Scotland (RBS), most recently as country executive for Singapore and head of global banking and markets in southeast Asia and Pakistan. In this role he was responsible for the overall operations of RBS’ primary debt markets, equity capital markets, structured finance and sales and trading businesses in that region. He managed relationships with key corporate, financial institution and public sector clients.

Prior to that, Aurangzeb held several roles with ABN Amro, now part of RBS. Based in Amsterdam, he was responsible for managing commercial banking business with large corporate, mid-market and financial institution clients. He also held positions including global head of portfolio management, chief financial officer for loan products and financial markets and country manager for Pakistan. Aurangzeb started his career with Citibank, where he held positions in its international financial institutions group in New York and its corporate banking group in Pakistan.

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