To: JaMillicalion©gmail.com] From: d Sent Wed 4/25/2012 9:26:34 PM The head of JPM Asia is leaving. Its they guy who probably did not like me and I told Jes he is no good for China. New big appointment. The man needs our help JPMorgan relocates key executive to Asia By Tom Braithwaite in New York and Paul Davies and Benny Sender in Hong Kong JPMorgan Chase, the largest US bank by assets, is moving its head of investment banking coverage from New York to Hong Kong as part of a push into Asia and a wider sign of western banks looking east for growth. Jeff Urwin will continue to run worldwide capital markets and mergers and acquisitions from his new office in Hong Kong in a rare example of a western bank basing a global investment banking job in Asia. "We've never done something like this where we've taken the head of one of the major businesses in the bank and moved it to Asia," said Jes Staley, chief executive of JPMorgan's investment bank. "That type of role has usually been based in New York and occasionally in London." "It's a very significant statement that the client business is increasingly global and that Asia is increasingly a place of interest - for clients based in Asia and for European, American and Latin American clients expanding into the region," he said. It might be the source of growth for the future, with bankers expecting more cross-border dealmaking from the likes of India's Tata, China's Geely and a host of Japanese companies. But Asia has recently proven a difficult market for US banks, including JPMorgan. Bankers complain about lower bonuses and restrictions on travel for many but the key moneymakers after equity and M&A activity slumped in the second half of last year and failed to recover so far this year, although debt markets have seen record activity. JPMorgan's own Asian investment banking revenues in the first quarter were down 32 per cent versus the same period last year, but other banks that split out