JPMorgan sets up legal entity in Abu Dhabi’s ADGM

The JPMorgan Chase logo is displayed at their headquarters in New York. (AP)

• The bank has been physically present in the emirate for 10 years

DUBAI: JPMorgan has set up a new legal entity in Abu Dhabi’s financial center ADGM, it said in a statement on Tuesday.
The bank has been physically present in the emirate for 10 years through a representative office, but has now established a new legal entity, called J.P. Morgan Middle East, licensed by the Abu Dhabi Global Markets Financial Services Regulatory Authority.
This will “enable the firm to provide a more complete suite of J.P. Morgan products and services to clients in Abu Dhabi,” the US bank said.