| JP Morgan |
| SCORE: 85 |
|
| RANK: 2nd |
| WEIGHTED SCORE: 111 (3rd) |
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| Management |
7 points |
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| Regional chief Gaby Abdelnour has been in Asia four years now and is a consummate relationship builder. Head of investment banking Todd Marin is one of the most respected dealmakers in Asia. Strength of bench is questioned by some competitors, particularly in sales and trading |
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| DCM - WEAK LINK |
6 points |
|
| Debt has traditionally been a weakness of JPMorgan in Asia, especially in local currencies. But rival players say they now see the firm much more aggressively in pitches for the important mandates, and the high yield team have scored some notable recent successes. One to watch |
|
| ECM |
7 points |
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| One of the first choices for firms looking to raise equity. Strong in Japan especially, and top three in most markets. Good equity linked franchise. Loses points for lack of A-share ability. |
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| M&A |
7 points |
|
| Should be the standout performer but hampered by inconsistency. Occasional big mandates, such as Chinalco, get hauled off near the end of the game. But real ability in key markets of Japan, China and India |
|
| Australia |
7 points |
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| Solid all-round performer without ever winning any player-of-the-year awards. Debt markets are a particular skill but can perform in equity and M&A as well |
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| India - STAR PLAYER |
8 points |
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| Like Ole Gunnar Solskjaer, has a tendency to score the crucial goals at key moments, from Tata Motors’ landmark acquisition of Jaguar and Land Rover onwards. Top equities bookrunner in 2009 and impresses across debt and M&A as well. |
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| North Asia |
7 points |
|
| A strong Hong Kong franchise. Good mix of deals across investment banking products included equity and debt deals for Noble Group last year, China Merchant Bank’s acquisition of Wing Lung (though some say JP Morgan’s client overpaid...) and Swire Pacific’s $500 million bond. Also active in Korean equities and M&A, with weakness in the busy debt market the only real blind spot. |
|
| Southeast Asia |
7 points |
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| Only Credit Suisse scores more consistently in southeast Asia. Main strength is its equity platform in the region, especially in Singapore. Could do more in debt. |
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| Japan |
8 points |
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| One of the few international banks to build a real, balanced and sustainable business in Japan. Lead of choice for megabank equity deals, good track record in M&A, and a settled capital markets team. |
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| China |
5 points |
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| Desk-thumping manager Abdelnour is only too aware of the need for an onshore licence in China. JPMorgan does ok despite not having one, particularly in M&A. |
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| Markets |
7 points |
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| JPMorgan scores well in some areas, such as rates and foreign exchange. It’s building up in commodities sales and trading, but could do better in cash equities |
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| Owner |
9 points |
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| You’ve been asleep for the past two years if you haven’t realised that JPMorgan has come out of the financial crisis as perhaps the strongest universal banking franchise. Its investment bank is motoring forward everywhere, including in Asia |
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| If JP Morgan was a premier league club it would be: |
MANCHESTER CITY |
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| For many years JPMorgan has flattered to deceive and disappointed supporters in Asia. The new strength of its owner, which provides huge financial support, gives JPMorgan a real chance to reach the top of the league. But owners want results now, which puts a lot of pressure on the team |
