A cross-departmental team led by corporate partner Caroline Kearns from Matheson’s Financial Institutions Group, together with litigation partner Brendan Colgan and senior associate Kathryn Rice, tax partners Turlough Galvin, Kevin Smith, Matthew Broadstock and associate Jen Preston and regulatory partner Joe Beashel advised JPMorgan on the Irish aspects of the structuring, preparation and implementation of the simultaneous cross-border merger, working with lead counsel Freshfields Bruckhaus Deringer in Germany.
The outcome of this transaction is a more scalable, well capitalized, and simplified structure for JPMorgan’s EU-based clients to interact with. JPMSE offers products and services across JPMorgan’s businesses, including its Corporate & Investment Bank, Commercial Bank and Private Bank, and provides access to EU liquidity for clients operating globally. The reorganization of the firm’s EU legal entity structure sees no change to its existing office locations, which are now run as a JPMSE branch network across the European Economic Area (EEA), with significant operations in Dublin, Luxembourg and Paris. JPMSE is subject to prudential supervision by the European Central Bank, in cooperation with BaFin and Deutsche Bundesbank in Germany, and CSSF in Luxembourg. In certain respects, it is also subject to conduct of business supervision by the National Competent Authorities, including the Central Bank of Ireland, in the respective jurisdictions where it has established branches in the EEA.