US banks are stepping up their expansion across Asia as rising corporate investment, AI infrastructure spending, trade and wealth creation fuel demand for banking services.
JPMorgan Chase has said it will continue hiring in Asia Pacific at a similar pace in 2027, after revenue at its corporate bank in the region grew by well above 20% this year.
Regional heads Oliver Brinkmann and Kerwin Clayton told Reuters in an interview that the US bank is close to completing a roughly 15% increase in its Asia Pacific corporate banking staff this year, after expanding the team by 20% in 2025.
JPMorgan’s corporate banking business in Asia Pacific has grown by more than 20% year-to-date, driven by the international expansion of Asian companies and increasing investment in artificial intelligence, data centres and supply chains.
Brinkmann said Southeast Asia is growing by more than 20%, with Malaysia benefiting from foreign investment linked to AI and data centres, while Singapore is acting as a regional connector and hub.
JPMorgan is also increasing its investment in trade and working capital finance, supporting companies in funding cross-border transactions as intra-Asian trade expands and the bank grows its trade finance business.
The push reflects a broader shift among global banks, which are increasingly directing talent and resources towards Asia as companies diversify supply chains, invest in technology and pursue cross-border growth.
Elsewhere, Citi’s global wealth head Andy Sieg said in May that the bank expected a significant portion of its global wealth-management hiring to be concentrated in Asia, where its private bank was growing faster and generating higher productivity than in other regions. Citi planned to hire about 100 private bankers and 400 other specialists globally.
