Best Trade Services Provider: JPMorgan

Runner-up: Deutsche Bank/BoNYM
Commended: Citi/BNP/HSBC
2007 Winner: JPMorgan

This is the fifth year in a row that JPMorgan has been voted Best Trade Services Provider, despite a strong challenge mounted by Deutsche Bank and Bank of New York Mellon, one of JPMorgan’s big rivals from across the city.

How does JPMorgan do it? First, it has the experience. It was among the first to recognise the potential of technology to cut costs, not just for itself but its clients, too. Its service offerings are also broad and growing all the time. It also has the global reach to be able to take its services to every corner of the world.

Indeed, JPMorgan’s trade-services know-how has also helped Trade Bank of Iraq, for example, one of the most highly respected banks in the Middle East, with the development of its internet-based client-access tools.

“We are very focused on aligning ourselves as a long-term partner with our customers; and we strongly believe that our continuing investments in people, products, and technology will reinforce JPMorgan’s position as a market leader in the Trade and Logistics space,” says Bruce Proctor, Managing Director and Global Trade Services Executive at JPMorgan.

But technology never stands still. It demands ongoing development. “We continue to see ongoing change in our Trade Services business, with a strong focus on global supply-chain management. Interlocking dependencies among national and regional economies require that corporations be able to access an increasing range of capabilities from providers. JPMorgan’s broad product offering has enabled us to support a true end-to-end client delivery model on a global basis.

“Obviously, the economic and operating difficulties apparent in the market will have an ongoing impact on our business. However, we believe that the ability to assist clients with both the physical and financial aspects of their operations will provide them with greater efficiencies and stronger risk management tools,” says Proctor.

“The ability to assist clients with both the physical and financial aspects of their operations will provide them with greater efficiencies.”

Bruce Proctor, JPMorgan