The mainland China securities unit of J.P. Morgan has appointed a new board chair and general manager.
J.P. Morgan Securities China Company (JPMSC) has appointed Lu Fang as its board chair, according to a «Reuters» report citing an internal memo. Lu succeeds Park Pu who worked at the firm for nearly a decade and will now assume a new role as senior advisor.
In addition, JPMSC has named Greg Yu as general manager. Yu was most recently deputy general manager and will retain his existing role as head of equities.
JPMSC won approval in 2021 to convert from a joint venture to a wholly-owned subsidiary. The onshore Chinese unit conducts various banking businesses including investment banking and securities brokerage and employed 210 staff as of end-2022.
