JPMorgan Chase & Co. is reconfiguring its investment-banking operations in China ahead of anticipated regulatory changes and a swell of new business.
The bank is changing how it categorizes its teams of bankers, formerly assigned to sector groups such as health care and industrials, said John Hall, JPMorgan’s co-head of investment banking coverage for Asia Pacific.
JPMorgan JPM, -1.54% in recent weeks has created seven new groups underpinned by the technology sector. They include financial services and technology, encompassing blockchain and mobile-banking clients, and new mobility, including bike-sharing companies.
Traditional investment-banking industry groups no longer “align well,” Hall said. The bank is changing the structure to cater to so-called new-economy companies in China, which are on track to be valued at hundreds of billions of dollars in the next few years and have kept bankers busy in recent months on private fundraising, initial public offerings and other transactions.
An expanded version of this report appears on WSJ.com.
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