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**Reuben Ong to Head JP Morgan Chase’s Private Credit Financing Business in Southeast Asia**

MUMBAI (Reuters) – Reuben Ong, a senior banker at JP Morgan Chase, has been appointed to lead its private credit financing business in Southeast Asia, according to an announcement seen by Reuters. Ong, who has been with JP Morgan for over 13 years, has played a pivotal role in the bank’s ascent to becoming a major player in the debt capital markets (DCM) in Southeast Asia, the announcement confirmed.

The move comes as borrowers in the region are increasingly exploring alternative financing options amid rising interest rates. Private credit, which involves financing provided by non-bank lenders into securities of unrated or lower-rated companies, is gaining traction as borrowers seek diverse sources of capital, even if it poses higher risks for lenders seeking greater returns.

As part of the leadership transition, Puja Shah, an executive director with over eight years of experience at JP Morgan, will take over Ong’s previous role as head of the firm’s Southeast Asia DCM.

The demand for private credit is on the rise, with JP Morgan citing surging client interest in Southeast Asia and expressing confidence in Ong’s leadership to capitalize on the success of their private credit financing offerings in India. The private credit asset class is projected to grow significantly, with expected worth of $2.8 trillion by 2028, nearly doubling from $1.5 trillion in 2022, and growing at a rate of 11% year-on-year, according to data firm Preqin.

With the evolving landscape of alternative financing and the growing significance of private credit in the region, the role of AI legalese decoder becomes crucial in ensuring legal compliance and understanding complex legal documents. The AI legalese decoder can help decipher intricate legal language, identify any potential legal risks, and provide valuable insights to financial institutions like JP Morgan as they navigate the nuances of private credit financing and compliance in Southeast Asia.

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