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The United States’ largest bank J.P. Morgan Chase has appointed heads for its newly-opened representative offices in Nairobi, Kenya and Abidjan, Ivory Coast.
The move is part of the bank’s expansion push into the continent. A J.P. Morgan representative told Semafor Africa the new offices would primarily offer corporate and investment banking services, and “maintain key relationships with governments, financial institutions, and corporations.”
Sailepu Montet, a former deputy director for financial services and head of reserves at the Central Bank of Kenya, will head up the Nairobi office. Kenya’s central bank approved the opening of the J.P. Morgan representative office in Nairobi earlier this week.
Michael Ahonzo Avou will lead the Abidjan representative office. His most recent roles include managing director of Société Générale Asset Management West Africa.
The news comes as J.P. Morgan Chase CEO Jamie Dimon began his trip to four African countries, starting with Nigeria on Wednesday. He is expected to also visit Kenya, Côte d’Ivoire, and South Africa for a series of meetings.
— Martin K.N Siele in Nairobi
