JPMorgan sets up legal entity in Abu Dhabi’s ADGM

JPMorgan (JPM.N) has set up a new legal entity in Abu Dhabi’s financial centre ADGM, it said in a statement on Tuesday.

The bank has been physically present in the emirate for 10 years through a representative office, but has now established a new legal entity, called J.P. Morgan Middle East, licenced by the Abu Dhabi Global Markets Financial Services Regulatory Authority.

This will “enable the firm to provide a more complete suite of J.P. Morgan products and services to clients in Abu Dhabi,” the U.S. bank said.