By Cristina Roca

JPMorgan Chase & Co. said Monday that it has merged its EU businesses into one entity in Germany, part of an effort to simplify its structure for EU-based clients.

The U.S. bank said it has merged its Luxembourg and Irish businesses into its German one. The new Frankfurt-based entity, J.P. Morgan SE, is one of the five largest banking legal entities in Germany, it said.

JPMSE offers products and services across the lender's corporate and investment, commercial and private banking businesses.

JPMorgan's legal entities in the U.K. remain unchanged, the bank said.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

January 24, 2022 04:53 ET (09:53 GMT)

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