Opening of a US bank’s Kenyan office

On his tour to the African continent, DImon visited Ruto at Government House, Nairobi, for the President’s speech to the X. Presently among others were, Sailepu Montet the country manager for JPMorgan. John Mbadi Treasury Cabinet Secretary, Central Bank of Kenya (CBK) Governor Kamau Thugge and the US Ambassador to Kenya Meg Whitman.

“Kenya is in high demand as a diverse and dynamic economy and has the potential to be JPMorgan’s financial hub in East Africa,” Ruto said. In Kenya and East Africa

Last week CBK announced that it has authorized JPMorgan to establish a representative office here in Kenya.

Foreign banks’ representative offices function as marketing and communication hubs for their parent banks and affiliated entities. The New York company’s foray into Africa also saw the opening of an office in the Ivory Coast.
JPMorgan has appointed former CBK financial markets manager Montent to lead its operations in Kenya.