J.P. Morgan Continues Diamond Sponsorship at Rolex Shanghai Masters
J.P. Morgan is proud to continue as the Diamond Sponsor of the Rolex Shanghai Masters for the second year in a row. As one of the world’s most exciting sporting competitions and Asia’s only ATP Masters 1000 tournament, this word-class tennis event will once again be held at the iconic Qi Zhong Tennis Centre between October 6 and October 13, 2019.
“J.P. Morgan is delighted to continue our Diamond Sponsorship at this award-winning ATP tournament, which hosts the best tennis players in the world every October. As a firm that has supported tennis for many years, including the U.S. Open since 1982, we are very proud that our involvement in the sport is global and includes China. The Rolex Shanghai Masters continues to attract more and more fans to the sport and we are privileged to be able to help develop and promote it further in such a dynamic location,” said Nicolas Aguzin, Chairman and CEO of J.P. Morgan, Asia Pacific.
Mark Leung, CEO of J.P. Morgan, China said: “J.P. Morgan has been in China for close to a century and we take a long term strategic approach to our business as we grow with China. We believe that our sponsorship of this fantastic event is a further demonstration of the firm’s commitment to this critical market as well as our clients and the local community.”
J.P. Morgan has been a witness and a supporter of China’s efforts to further liberalize its financial markets. “We are very pleased to see how quickly China is developing and how promising its future prospects are for both our clients and J.P. Morgan. We are committed to growing with China and will continue to invest across the full spectrum of our business areas including banking, wholesale payments, markets, securities services and asset management to ensure that we are well positioned to support our clients in China and globally,” said Leung.
In March, J.P. Morgan announced that it had received approval from the China Securities Regulatory Commission (CSRC) to establish a new majority owned and controlled securities company in China - J.P. Morgan Securities (China) Company Limited. The firm is now working with relevant authorities towards the final regulatory approvals, which will allow J.P. Morgan to further strengthen its onshore platform and offer a complete set of services and solutions to its clients both in China and globally.
The firm’s Asset Management business recently won an auction to purchase a 2% equity stake in its Chinese asset management joint venture China International Fund Management, and is poised to become the first foreign company to own a majority stake in a Chinese fund management joint venture, contingent on the approval of regulators.
Tournament Director Michael Luevano said: “The Rolex Shanghai Masters celebrated its important tenth anniversary last year and now we are turning our attention to the tournament’s next phase in an effort to grow this award-winning event even further. J.P. Morgan has been connected to tennis and sport more generally in other parts of the world. Having such a prestigious company being part of our team can only be a winning formula and is our first step as we enter this exciting new phase.”