The Zhitong Finance App learned that according to people familiar with the matter, J.P. Morgan Chase has transferred more than 30 quantitative analysts from mainland China to Singapore and Hong Kong, China in recent months to focus the team on regional hubs and be closer to the business sector. A J.P. Morgan Chase spokesperson said that Singapore is the center of the bank's quantitative trading and research business, as well as the location of the QTR Center of Excellence (QTR Center of Excellence), which continues to expand.

People familiar with the matter said that J.P. Morgan Chase has transferred about 25 to 30 employees from Beijing and Shanghai to Singapore. One of the people familiar with the matter added that six members of the bank's Chinese quantitative trading and research department will be transferred to Hong Kong.

According to reports, J.P. Morgan Chase set up a quantitative trading and research team earlier this year to accelerate the electronic trading business and meet the challenges posed by non-bank competitors.

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