February 2010
Wealth management: The richest go for JPMorgan
With a long-standing reputation for stability and sound advice, JPMorgan was ideally placed to profit from wealthy investors’ mistrust of other managers during last year’s market mayhem. Doug Wurth, head of its international private bank, tells Helen Avery how his division kept its cool and its clients during the crisis.
Private banking: JPMorgan takes the top spotJPMorgan Private Bank’s client assets increased by 12% to $683 billion in 2009. The bank added 15% more net new clients over the year and grew its client-facing employees by 20%. It has become a safe haven for private clients, particularly those with more than $30 million in assets, making it Euromoney’s number one private bank globally for ultra-high-net-worth individuals. ...
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