J.P. Morgan today announced it has been appointed by Teva Pharmaceutical Industries Ltd. (Teva) to act as successor depositary bank for the company’s American Depositary Receipt (ADR) program listed on the New York Stock Exchange (NYSE). J.P. Morgan will manage the ADR program for Teva, a global pharmaceutical company based in Israel. The NYSE-listed ADRs trade under the symbol TEVA and the program ranks among the top three ADR programs in the EMEA region, by market value. Alex Hickson, Head of EMEA Regional Depositary Receipts at J.P. Morgan, said: “We are delighted that Teva has appointed J.P. Morgan to manage their ADR program. We are confident that our customized ADR services will help Teva meet their goals to increase visibility within the global investor community and strengthen their global market presence. Teva joins a line-up of leading global companies, including many from the pharmaceutical sector, for which J.P. Morgan acts as depositary bank.” J.P. Morgan pioneered the depositary receipts market over 85 years ago, introducing the first ADR in 1927. J.P. Morgan provides a full range of ADR, GDR and HDR services to issuers seeking to have their equity traded beyond their home markets. For market information on depositary receipts and international equities, please go to www.adr.com. More information on J.P. Morgan’s depositary receipt services is also available on www.jpmorgan.com/visit/adr. About J.P. Morgan’s Corporate & Investment Bank J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18.2 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.
Steve Ricchiuto, MZUHO Securities chief economist, and Bob Michele asset management global CIO with JP Morgan (JPM), joined BloomberTV's 'Bloomberg GO' to discuss the economy and the Fed raising rates.