JPMorgan Treasury Services announced today that Atos Origin has mandated JPMorgan for supporting domestic cash management in Asia and has put in place an international cash management structure to link Asia with Europe.
In addition to JPMorgan’s cash management service, Atos Origin’s subsidiaries have agreed to an integrated AAA rated Money Market Funds solution provided by JPMorgan Asset Management.
The cash management solution allows Atos Origin SA to support its overall business development in Asia by using an efficient cash management solution as well as a liquidity solution in Asia. These solutions are also helping the cash element of Atos Origin’s IT project for the Beijing 2008 summer Olympic games.
Simon Jones, Senior Vice President and head of Corporate Sales for JPMorgan Treasury Services in Asia Pacific, said, "This cross region cash management structure with Atos Origin, a leading European multinational company, is an example of JPMorgan’s strategy with European multinational companies in the Asia Pacific region. This solution clearly demonstrates our strong position as a leading provider of liquidity, cash management and trade finance across two regions in a seamless manner."
"Multinationals globally have shown a continued interest in diversifying their cash management solutions, and operating in China is no different," said Clifford Chiu, Head of Institutional Business and Global Cash in Asia for JPMorgan Asset Management.
Nicolas Deruaz, Group Vice President, Treasury at Atos Origin, welcomed the relationship with JPMorgan, which brings its global and local expertise in cash management and asset management to Atos Origin and its Asian affiliates. He said the agreement is part of Atos Orign’s banking relationship strategy to mobilise additional expertise from its partner banks and then improve its efficiency in treasury management promote trade operations within Atos Origin units.