SHANGHAI: Global investment banking and financial services company, JP Morgan has scored the diamond sponsorship rights for the ongoing Rolex Shanghai Masters, the only ATP Masters 1000 tennis tournament held in Asia.
“JP Morgan is delighted to be the Diamond Sponsor of the Rolex Shanghai Masters as this world-class tennis event celebrates its 10th anniversary. It’s one of the world’s most exciting sporting competitions taking place in one of China’s most dynamic cities. JP Morgan has supported the US Open in New York since 1982, and expanding our involvement in tennis into other local communities around the world is a natural step for us,” JP Morgan Asia Pacific CEO and chairman, Nicolas Aguzin said.
Mark Leung, CEO of JP Morgan China said: “China represents one of the largest opportunities in the world for many of our clients and for JP Morgan. We are committed to bringing the full force of the firm and our resources to China and the local communities, and we believe that our sponsorship of such an important event again demonstrates our commitment to this critical market.
“We have a long term strategic approach to our business in the country. These exciting investments in China will better position us to support the rapidly growing needs of J.P. Morgan’s international clients coming to China, Chinese clients going global and the acceleration of the development of China’s financial markets.” he added.
JP Morgan was designated as the first non-Chinese Renminbi clearing bank in the USA by the People’s Bank of China earlier in the year. The country’s economic and financial market reforms, its Belt & Road initiative, the rapid growth of its new economy sectors and the internationalization of the RMB (the Chinese Yuan) are all clear demonstrations of how quickly the market is developing, being a tantalising future prospect for the company and its clients.
Shanghai Masters tournament director, Michael Luevano said: “It is truly an outstanding partnership for both organisations and it is very exciting for tennis in China to have such an important global company supporting the sport here. JP Morgan has been connected to tennis and sport more generally in other parts of the world. Having such a prestigious company being part of our team can only be a winning formula.”
