(25 November 2009 – China) A veteran Hong Kong commercial lawyer has been announced as J.P. Morgan’s new chief executive officer for China.Mr Shao, who is currently Asia managing partner at the law firm Linklaters, has been appointed to the position of CEO after establishing a long relationship with the bank.
Gaby Abdelnour, chairman and chief executive officer, J.P.Morgan Asia-Pacific, said that the group is delighted that Mr Shao is joining the group.
Mr Shao will play an important role in the development of all existing business in China and he will also lead the bank’s long term-growth strategy, Mr Abdelnour added.
The new CEO’s responsibilities will include him overseeing investment banking, treasury, securities services and asset management.
Mr Shao will also manage the development of new products and services for corporate and investor clients, J.P. Morgan said.
Mr Shao succeeds Mr Charles Li, who left J.P. Morgan in June to become chief executive officer of Hong Kong Exchanges and Clearing, which operates the Hong Kong stock exchange.