JPMorgan’s <JPM.SI> corporate bank has hired a senior banker from Royal Bank of Scotland <RBS.L> as its new Asia chief executive.

Muhammad Aurangzeb, who was previously head of global banking and markets for RBS in southeast Asia as well as country executive for Singapore, will join the US bank in February, a bank spokeswoman confirmed in an email to Reuters.

JPMorgan’s global corporate bank manages the firm’s relationships with large corporations, financial institutions and public sector organisations.

The corporate bank, which is headed by Greg Guyett, is looking to expand in developing markets such as Latin America, India, China and Southeast Asia.