JP Morgan has announced that it has restructured its existing EU credit institutions into one legal entity, known as JP Morgan SE (JPMSE). This marks the conclusion of a firmwide project to deliver a more scalable, well-capitalized, and simplified structure for EU-based clients to interact with. JPMSE offers products and services across JP Morgan’s businesses, including its Corporate & Investment Bank, Commercial Bank, and Private Bank, and provides access to EU liquidity for clients operating globally.
Following the process, JP Morgan AG has been converted into a Societas Europaea, a European public company. The combined unit is among the five largest banking legal entities in Germany, and the top 20 under direct ECB supervision in the EU based on the size of the balance sheet. Its total capital base is around €34 billion.
Stefan Behr is CEO of JPMSE and is also a member of the firm’s Europe, Middle East, and Africa (EMEA) Management Committee, which is chaired by Viswas Raghavan, CEO of JP Morgan in EMEA. JPMorgan Chase & Co, a leading financial services firm based in the United States of America, with operations worldwide, had $3.7 trillion in assets and $294.1 billion in stockholders’ equity as of December 31, 2021. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
