JP Morgan ups the ante

The bank''s head of ECM, Michiel Steenman, and director Rupert Fane, discuss JP Morgan''s assault on the equity league tables.

Last year's three-way merger between Chase, Jardine Fleming and JP Morgan created a number of challenges and opportunities for the combined entity's equities business in Asia Historically, Jardine Fleming's strong local franchises had enabled it to stay at the forefront of the domestic equities business However, the onset of the regional crisis in 1997, which dried up the domestic IPO market, combined with a growing predilection for ADR offerings by the region's blue chips, saw the bank slip back down the league tables and the US investment banks muscle in

Steenman, who has been head of Asian equity capital markets at Jardine Fleming since mid 1998 intends to change all this  Prior to JF, the Dutchman developed a reputation for 'friendly'...

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