The Market Monitor Minding the Nation's Business
Finance Secretary Ralph Recto recently met with senior officials from JP Morgan to discuss potential collaborations and initiatives aimed at strengthening the Philippine capital market.
The meeting, held at the Department of Finance (DOF) headquarters in Manila on November 18, focused on various topics, including JP Morgan’s current operations in the Philippines, opportunities for partnership, and the ongoing efforts to include Philippine government-issued securities in the JP Morgan Bond Index.
The DOF noted that this inclusion would significantly improve foreign investor access to peso-denominated government bonds, reduce transaction costs, and enhance the country’s attractiveness as an investment destination.
JP Morgan, a leading global financial services firm, provides a wide range of solutions to major corporations, governments, and institutions around the world.
Secretary Recto was joined in the discussions by DOF Chief Economist and Undersecretary Domini Velasquez, as well as National Treasurer Sharon Almanza.
The JP Morgan delegation included Daniel Zelikow, Vice Chair for Public Sector; Carlos Mendoza, Managing Director and Senior Country Officer for the Philippines; Karl Yeh, Managing Director and Head of Public Sector Coverage for Asia Pacific; and Louie Maloles, Executive Director and Head of Global Corporate Banking for the Philippines.