Awards for Excellence 2019
Transaction services is an attractive business for banks finding it harder to make money in capital markets and M&A. This is evident in North America, where investment banks have been furiously investing in their cash management and trade finance businesses to get ahead of the game. Even Goldman Sachs is keen for a seat at the transaction banking table and is planning to roll out its own cash management services soon.
But there is one bank clearly leading the way in North America: JPMorgan Chase’s bullish investment in the business coupled with a strong transaction banking team makes it North America’s best bank for transaction services.
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| Takis Georgakopoulos |
Takis Georgakopoulos, head of wholesale payments at JPMorgan, has been integral to the bank’s transaction banking success. The wholesale payments unit was created after a decision to merge its treasury business with Chase Merchant Services earlier this year. This represents the biggest wholesale payments network in the world, processing more than $6 trillion of payments daily.