JPMorgan cuts 30 jobs in Singapore, HK

Singapore

JPMORGAN Chase & Co has cut 30 jobs, or 5 per cent of its headcount, at its Asia wealth management business, a source with direct knowledge of the matter said, as the US bank sharpens its focus on tapping wealthier clients.

The job cuts would affect the bank's Singapore and Hong Kong offices, the source said, declining to be identified because they were not authorised to speak publicly on the subject.