J.P. Morgan has announced the appointment of Steve Clayton as managing director and senior country officer for Malaysia. Clayton, who will remain based in Kuala Lumpur, will report to Todd Marin, J.P. Morgan’s head of investment banking in Asia-Pacific, and have a team of about 100 staff reporting to him.
Clayton will be responsible for developing the bank’s overall franchise and partnering closely with the local and regional leadership teams to ensure the consistent delivery of the bank’s global platform across all businesses to its clients. “Steve brings 24 years of broad banking experience and deep local expertise to our firm and we are delighted that he’s joining us at a time when we are investing significantly to grow our business in Southeast Asia,” said Marin in a statement.
Clayton joins J.P. Morgan from Barclays Capital, where he was the chief executive officer for Malaysia, a position he held for the last eight years. In this role he has advised Malaysian companies and government entities on a range of strategic initiatives as well as mergers and acquisitions, equity and debt financings, risk management and commodities-related transactions.
It is understood that Clayton is replacing Clement Chew who was the bank’s previous Malaysia senior country officer and head of Malaysia equity sales, but who will now be focusing on equity sales at the bank.
The new appointment follows moves at the end of June by J.P. Morgan to strengthen its private wealth management business with key hires of Edwin Lim, Gabriel Chan and Patrice Huang from DBS’s private bank and Eric Goh from BNP Paribas’ wealth management arm.
J.P. Morgan offers a range of services to its clients in Malaysia including investment banking, equities research and sales, money market, treasury, commercial banking and corporate banking business. The bank was the first foreign broker to set up a futures and options business in Malaysia and obtained its foreign stock broking license in 2005.