DOF, JP Morgan explore potential areas of collaboration

POSSIBLE COOPERATION. Department of Finance (DOF) Secretary Ralph Recto (left) and JP Morgan vice chair for public sector Daniel Zelikow pose for a photo at the sidelines of a meeting held on Nov. 18 at the DOF office in Manila. The meeting aimed to explore potential areas of collaboration and initiatives in the Philippine capital market. (Photo courtesy of DOF Facebook page)

MANILA, Philippines – Finance Secretary Ralph Recto recently met with senior officials of JP Morgan to explore potential areas of collaboration and initiatives in the Philippine capital market.

In a social media post on Thursday, the Department of Finance (DOF) said the meeting was held at the DOF head office in Manila on Nov. 18.

“The discussions include JP Morgan’s ongoing operations in the Philippines, avenues for partnership, and progress in the inclusion of the Philippine government-issued securities in the JP Morgan Bond Index,” it said.

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The DOF said the inclusion would enhance foreign investor access to peso-denominated government bonds, reduce friction costs, and strengthen the country’s investment attractiveness.

JP Morgan is a leading global financial services firm that offers solutions to the world’s largest corporations, governments, and institutions.

Joining Recto were Chief Economist and DOF Undersecretary Domini Velasquez and National Treasurer Sharon Almanza.

Senior officials from JP Morgan were vice chair for the public sector Daniel Zelikow; managing director, senior country officer, and head of banking for the Philippines Carlos Mendoza; managing director and head of public sector coverage for Asia Pacific Karl Yeh; and executive director and head of global corporate banking for Philippines Louie Maloles. (PNA)