The US bank has moved about 25 to 30 staff from Beijing and Shanghai to Singapore, sources say
Published Fri, Jul 24, 2026 · 02:36 PM
[SINGAPORE] JPMorgan Chase moved more than 30 quant staff from mainland China to Singapore and Hong Kong in recent months to consolidate the team in regional hubs and be closer to the business divisions, according to people familiar with the matter.
The US bank moved about 25 to 30 staff from Beijing and Shanghai to Singapore, the people said, requesting not to be named because the matter is private.
About six members in its China quantitative trading and research unit were also moved to Hong Kong, one of the people added.
JPMorgan formed the quantitative trading and research (QTR) group earlier in 2026 in a bid to speed up its efforts in electronic trading and fend off non-bank rivals.
Market-making firms including Citadel Securities and Jane Street Group have expanded fast, capitalising on electronic trading.
“Singapore is a key hub for our quantitative trading and research business and our growing QTR Center of Excellence,” a spokesman for the bank said, adding that the team operates under a global model and the centre allows the bank to better serve clients across the region and globally.
JPMorgan’s trading business in the city state includes foreign exchange and commodities.
The US bank has been bolstering its presence in Singapore in areas including private wealth.
It is also set to participate in the city state’s push to become a gold trading hub.
In 2022, it opened its new office at CapitaSpring, and also operates from a global technology hub in Changi.
JPMorgan has been making a long-term bet on China, expanding its banking franchise in the country as it positions itself for a rebound in initial public offerings and dealmaking. BLOOMBERG
