JPMorgan’s <JPM.N> corporate bank has hired a senior banker from Royal Bank of Scotland <RBS.L> as its new Asia chief executive, as it seeks more business growth from emerging economies.

Muhammad Aurangzeb, who was last 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 JPMorgan 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.

Guyett told Reuters earlier this month JPMorgan is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank’s home base.

The aggressive expansion of JPMorgan’s corporate business outside its home market will pit it against other large commercial banks such as Citigroup <C.N> and HSBC <HSBA.L>.