[1/2] A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015.
REUTERS/Mike SegarApril 13 (Reuters) - JPMorgan Chase & Co (JPM.N) has dropped or cut credit lines to a large number of Indian metals clients, sending them looking for new brokers, the head of Nanhua Financial UK told Reuters.
"Loads of Indian clients have enquired because JP Morgan cancelled their accounts," said Nong Yan, chief executive of Nanhua Financial UK, the British arm of one of the biggest future brokers in China.
Broker Marex Financial has also been picking up new clients as JP Morgan and other banks reduce their exposure to metals and commodities, its chief executive said.
"It's not just JP Morgan, all of these banks are sharpening their focus.