FSC gives OK for merger of J.P. Morgan divisions
The China Post news staffTAIPEI, Taiwan -- The Financial Supervisory Commission (FSC, 金管會) yesterday approved plans by J.P. Morgan to merge its securities investment trust and financial consulting arms as a single entity, in an effort to leverage the benefits of economies of scale, and integration of resources.
August 22, 2013, 11:43 am TWN
The regulator yesterday approved of the move to have its securities investment unit acquire its financial consulting subsidiary.
The FSC stated that both companies are of the parent JPMorgan Chase & Co., and that it has approved of its move to merge disparate business units in a bid to improve its operations and resource utilization.