JPMorgan China names new heads for China investment banking arm

By Thomson Reuters Apr 23, 2024 | 3:57 AM

By Selena Li

HONG KONG (Reuters) – JPMorgan Chase & Co appoints Lu Fang to chair the board of its China investment banking arm, replacing former chair Park Pu, according to a company memo reviewed by Reuters and confirmed by a company spokesperson.

Greg Yu, recently deputy general manager of J.P. Morgan Securities China Company (JPMSC), has been promoted to general manager, according to the Memo issued on Wednesday.

The China unit of JPMorgan conducts various banking businesses including investment banking and securities brokerage.

Both appointments took effect immediately, subject to regulatory filings, the bank said in the memo.

Lu replaces Park Pu, who was the China arm’s chairman for nearly a decade. Pu will assume a new role as senior advisor to the firm, the memo reads.

Lu will be responsible for overall management of the company, overseeing local governance and the bank’s strategic agenda.

Yu, who will continue in his role as head of Equities for JPMSC will be responsible for the implementation and execution of the bank’s strategic agenda, facilitating regulatory relationships, and overseeing day to day operations.

(Reporting by Selena Li; Editing by Michael Perry)