J.P. Morgan appoints new treasury services head

J.P. Morgan has promoted Ricky Kaura to head of regional treasury services in Indochina, Indonesia, Malaysia, Pakistan, the Philippines, Singapore and Thailand. In this newly created position, Kaura will be responsible for overseeing the entire treasury management franchise in this region.

He will be based in Singapore and will report to Simon Jones, the bank's head of treasury services for Asia-Pacific.

Kaura has been at J.P. Morgan for more than 16 years and has held several senior roles in the Netherlands, Singapore, the UK, the US and most recently Japan where he is currently the managing director and Japan business executive for J.P. Morgan treasury services.

"This is a great opportunity for me to leverage nearly two decades of experience to work for our wholesale transaction banking clients, helping them efficiently navigate the region as they expand their operations, develop local supplier relationships, and gain new customers," Kaura said in a statement.

The bank said the appointment is part of its aggressive plan to deepen and expand its treasury management and corporate banking capabilities globally.

"We are seeing tremendous growth and increased interest in these countries from both our multinational corporate clients and our global financial institution clients," Jones said in the same statement. "By centralising accountability for these countries, we make it so much easier for our clients to do business with J.P. Morgan than with other cash management providers."

In January this year, J.P. Morgan made a series of treasury staff reshuffles, as part of which Jane Perry was promoted to country head of treasury and security services (TSS) for Australia and New Zealand.

Last month, J.P. Morgan hired Deutsche Bank's Thomas DuCharme to lead the bank's TSS department in Asia-Pacific. DuCharme will also be based in Singapore, an important strategic treasury centre location, according to the bank.