Now the investment banks very well know at which place lies that centre of gravity of the world. All this has been attributed to some to quite a few reasons such as long term promises of the Asian market, a huge swing that has come in the Wall street of the movement from it to the eastwards as well as from the City of London to Shanghai as well as Singapore.
The management of the senior levels of the most of the international investment banks has maintained their base in London or New York. On some occasions, they will be sweeping all through the financial market of Asia which is equal to the grand tour. But there are talks that whether there are going to be changes because of this or not.
JP Morgan made an announcement in the last month that Jeff Urwin who is working as the global head of the investment banking is going to move to Hong Kong. This has happened for the very first time that a bank of such international level has based their global head in Asia. This thing is away from the fact that the co-heads of two of the global investment banks of the UBS had their base in Sydney. Urwin is also going to be the chief executive of JP Morgan in part of Asia-Pacific. This leaves every one wondering that how is he going to spend his free-time.
Till today's date, out of a total of 14 heads or the co-heads of the global investment bank, amongst these 10 investment banks in terms of revenue have based their firms in New York. Out of this, four are in Europe and one in Australia. This thing is true as far as the heads of the fixed income as well as equities. Need cash for investment apply with 1 month loan @ [http://www.1monthloanuk.co.uk/] and get quick funds for you.
This move by the intention is very clear. Jes Staley, who works as chief executive of JP Morgan, had to say that the move of Urwin will be moving the base of the global head of the investment banking in Asia. This move is very clearly going to build their commitment in this very region and will make their global franchise more important. Urwin also said that this thing would be help JP Morgan in making a balance as far as the business in the global business is concerned. But there is still doubt that whether the other banks are going to follow JP Morgan or not. It is also quite early to talk about it