Expanding headcount by 30% – 40% from the end of last year.
Bloomberg News reports that JPMorgan Chase is planning to expand its equity research team covering Chinese companies by more than 50% this year, as the largest U.S. bank seeks to meet rising client demand for analysis while China quickens the pace of opening its financial markets.
The new hires, mostly senior analysts focusing on sectors from tech and consumer goods to financials and industrials, will help double the bank’s coverage of China-listed companies to more than 200, said James Sullivan, JPMorgan’s head of Asia ex-Japan equities research.
The hiring plan is more ambitious than one he said a few months ago was to expand headcount by 30 percent to 40 percent from the end of last year.
“You’re seeing significant incremental interest from our institutional investors across all sectors,” Sullivan said in an interview in Beijing. About 80 percent of this year’s hiring has already been completed, and a further 30 percent to 40 percent increase next year is being considered, he added.
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