Profile: JP Morgan Doubles Down on Argentina with Global Support Hub
By: Matt Kendall
Long before President Mauricio Macri took office in Argentina – effectively turning the country into an investor sensation overnight – United States multinational bank J.P. Morgan Chase & Co. (JP Morgan) placed a savvy bet on the nation when it was still mired by default.
As a result, JP Morgan is now the top underwriter in Argentina, leaving Deutsche Bank, HSBC, Santander, and Citi in its wake, according to data from Bloomberg. Early this year, the bank announced that it would triple its Argentina workforce, also predicting that debt sales from the nation would soar to $30 billion.
With the inauguration of its Global Support Hub in Argentina last year, clearly the bank has been standing firmly by its predictions, as it represents the first Latin America-based center of its kind.
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