JPMorgan
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Junior bankers should relax about the threat to their jobs from AI and lean into opportunities to bluff their way to Wall Street glory.
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A move back up in rates is creating a PR battle among Wall Street banks. JPMorgan was punished for a cautious outlook, Goldman Sachs promoted strong fixed income trading results and Bank of America projected a Zen approach to rate moves.
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Euromoney Private Banking Awards: Hong Kong’s best for family-office services: JPMorgan Private BankJPMorgan Private Bank wins the family office award thanks to the quality and range of products, services and advice it provides wealthy Asian families.
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Euromoney Private Banking Awards: Hong Kong’s best for philanthropic advisory: JPMorgan Private BankJPMorgan Private Bank wins this award in recognition of its expertise and global connectivity in philanthropic advisory and services.
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Euromoney Private Banking Awards: Singapore’s best international private bank: JPMorgan Private BankJPMorgan Private Bank wins the international private bank award for the power, range and expertise of its cross-business capabilities.
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JPMorgan has been making a strong push in private banking in Europe, the Middle East and Africa over the past three years, substantially growing its numbers of advisers and clients, opening offices from Athens and Brussels to Copenhagen and Manchester, while taking advantage of its big technology budget to invest in new capabilities.
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The very best franchises serving family offices must get one thing right above all else: they must be able to deliver a customized offering that is sensitive to the particular needs of any client. The larger the institution, the more services it can deploy to do this, but the higher the risk of a cookie-cutter approach to clients, requiring them to adapt to the service provider rather than the other way around.
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JPMorgan Private Bank has unveiled a host of new services in recent years, targeting key clients across North America, as well as world-wide.
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If JPMorgan Private Bank has one objective, it is to provide to clients that magic combination of an institution with the power of a global financial leader and the intimacy of a private-banking relationship. It is led by Mary Callahan Erdoes.
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JPMorgan’s wealth management business headed into the coronavirus pandemic with considerable momentum in high and ultra-high net-worth clients. It had only recently founded 23 Wall, a team to advise the biggest and wealthiest families on how to think strategically about the whole panoply of their private assets – everything from companies and property to sports teams and art.
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For its mix of global capability with local expertise and philanthropic efforts, JPMorgan wins the award for Sweden’s best international private bank.
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The award for the best international private bank in the Nordics and Baltics goes to JPMorgan Private Bank this year. Among other things, the US lender impressed the judging panel with the philanthropic commitments it has facilitated for clients in the region.
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Few things matter more to investors than clarity and foresight. JPMorgan Private Bank's investment strategy team has established itself as an essential navigator, steering clients away from market pitfalls and towards opportunity.
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JPMorgan Private Bank says that it has “always been intentional about engaging future generations”. People are transitory and money can be too, but it doesn’t have to be. Any family knows wealth can be lost as easily as it can be won, and consistently falling on the right side of that equation means engaging the next generation, and the one after that.
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JPMorgan Private Bank clients enjoy the best of both worlds: an intimate relationship with a US lender that is allied to the power of a genuinely global financial leader. It is led by Mary Callahan Erdoes.
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“Philanthropy is in our DNA.” So says JPMorgan Private Bank, which for more than 160 years has served as a philanthropy adviser and investment manager to many of the world’s leading charitable institutions and philanthropists.
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Traditionally, the route to acquiring new clients was achieved via the expansion of an adviser’s personal network. This was cultivated by doing the rounds, attending events and conferences, and through referrals. Business was steadily attained, then systematically, over years and even generations, retained.
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Luring star bankers from rivals – like Citi’s appointment of JPMorgan veteran Viswas Raghavan – can bring hidden costs beyond the expense of replacing stock options for the lucky new hire.
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Chief executive Jane Fraser has been true to her promise of a marquee hire to run Citi’s banking division, with the appointment today of JPMorgan veteran Viswas Raghavan. He brings a wealth of both transactional and operational management experience, but the symbolism of his arrival may be just as important.
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Management changes expand the responsibilities of Marianne Lake and Jennifer Piepszak, lead candidates to one day head JPMorgan, but there is another contender.
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Opposition to the proposed Basel III endgame for US banks is now so widespread that a climb down by the Federal Reserve is likely. Wall Street bankers like Jamie Dimon can stop crying wolf about increased capital requirements and think carefully about publicly threatening their regulators.
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They already dominate the investment banking business in Europe, and now the leading US banks have their eyes on an even bigger prize. They see their vast investments in the digital technology transforming payments and transaction services and their retained global presences as the keys to winning even greater revenues from Europe’s midsize corporates.
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Siemens is anchor client for a new rules-based approach to banking.
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The annual Senate quizzing of US big bank chief executives threw up all the usual favourite partisan arguments, but little else. If this is oversight, it often lacks insight.
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Flexibility and parameterization are expected to become key differentiators for FX execution algos as the market continues to evolve. JPMorgan’s algo suite offers both in abundance.
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JPMorgan has expanded its footprint in the non-deliverable forwards (NDF) space, supporting pricing capabilities across a wide range of currencies including seven Latin American pairs (BRL, MXN, ARS, CLP, COP, PEN, UYU) as well as frontier-market currencies such as the Costa Rican colón, Dominican peso, and Guatemalan quetzal.
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JPMorgan’s global commercial real estate revenue grew to $806 million in the second quarter of 2023, from $642 million in the first quarter.
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Banks including NatWest and JPMorgan are struggling to put out reputational risk-management fires.
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BlackRock, JPMorgan and McKinsey are working on plans for a new development finance institution focused on Ukraine’s reconstruction. The project has already had to temper some ambitions, but its advisers still hope it can propel flows of private-sector money to Ukraine in years to come.
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Good banks do not collapse in times of turmoil. But the best banks do more than that – they are so buttressed against stress that when it strikes, they not only emerge unscathed but can act decisively in support of the whole sector. JPMorgan was that bank in March 2023, able to play that role because of its consistently superior performance.
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In the US, JPMorgan has 55 dedicated private banking offices, from Austin to Seattle, and Cincinnati to Fort Lauderdale. Elsewhere, it focuses heavily on serving high and ultra-high net-worth customers in Europe, where it has eight offices, including the UK and Germany, Asia, through Hong Kong and Singapore, and Latin America, with clients served out of Miami, New York and Switzerland.
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Jamie Dimon puts a limit on staff travel to one of JPMorgan’s more exotic branches.
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JPMorgan has cleaned up in a deal that sees the regulators waive their own cap on 10% deposit ownership.
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JPMorgan’s AI model to interpret central bank messaging came out just as it emerged that Jerome Powell had been pranked into discussing policy with Russian provocateurs. Euromoney’s distinctly obvious heuristics model (D’Oh!) might be needed.
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In a year of financial upheaval from all sides, JPMorgan Private Bank made things look almost easy.
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Of many information needs today, two of the most prominent for wealthy investors are insight and analysis that help guide them through volatile and uncertain markets, and identify opportunities to invest sustainably.
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Supporting its awards for the world’s best private bank and best for ultra-high net-worth individuals, JPMorgan’s power and penetration in serving North America’s UHNW segment – the largest globally by number of individuals and total value of wealth – makes it the clear winner in this category for the judges.
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JPMorgan Private Bank wins this year’s top award, as well as being named the world’s best private bank for ultra-high-net-worth individuals 2023, and the world’s best private bank for investment research 2023.
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Interest rate risk management has been complicated by the fall in yields after the US bailout of SVB’s depositors. Clients may feel that hedging chiefly benefits Wall Street dealers rather than themselves.
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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The former CEO of Cazenove has written an intriguing reflection on his 23-year career at the storied London institution. It captures his view from the heart of the turmoil, but mostly steers clear of score-settling.
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More blue blood than bad blood at former chief executive’s book launch.
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The region’s advantage is likely to be short-lived and could fade by 2024, according to JPMorgan's private bank head.
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The chief executive of JPMorgan’s Onyx blockchain business explains why it has been a long slog, and where the interest lies today after the crypto collapse.
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Daniel Zelikow, chairman of JPMorgan Development Finance Institution’s governing board, on private-sector development finance, EM policy risk and funding bankable assets.
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DBS, JPMorgan and Japan’s SBI combined to launch a groundbreaking decentralized finance trade stewarded by the Monetary Authority of Singapore. It was a great deal of work, but to what end?
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This year has seen banks report markdowns on leveraged finance commitments and related exposures, something that is hardly surprising given what has happened to yields. But even with syndicates struggling to offload some high-profile big deals, the troubles seem oddly muted so far.
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Both HSBC and JPMorgan have recently boosted their digital trade finance offerings, as the ICC Centre for Digital Trade and Innovation commenced testing of digital trade systems between Singapore and the UK.
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UK pension fund hedges have failed the first real stress test in a new era of rising interest rates. Bankers are surprisingly relaxed about the implications for other threats to global systemic stability.
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Smaller firms are expected to pull back on expenditure as recession risk rises.
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More awareness by corporates of the role played by small suppliers has boosted early payment programmes.
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The US bank has reorganized its Latam wealth management business to focus on faster growing countries, but home bias remains a tough instinct to overcome.
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West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.
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Supposedly disappointing second-quarter earnings should have surprised no one and Morgan Stanley’s were quite good.
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JPMorgan is the standout winner of the award for the region’s best bank for advisory. According to Dealogic data, the firm advised on 22 completed M&A transactions in the year to the end of March 2022 worth a total of $66.51 billion, giving it a 34.2% market share. No other investment bank came close in terms of either deal volume or deal count.
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Something has been building at JPMorgan. For years, a common question in the industry has been: why isn’t the bank, for all its global strength, doing better in Asia? It has always been close to the top in Asian investment banking but rarely troubles Goldman Sachs and Morgan Stanley at the very highest table.
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Earlier this year, JPMorgan was named the best wealth manager in the US in Euromoney’s private banking and wealth management survey for 2022. It was also named as best for the ultra-high net-worth segment – classified as individuals or families with $30 million to $250 million in assets.
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The global wealth expert has expanded its vision, horizon and profits this year
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Not content with consolidating its position at the top of the SSA rankings, JPMorgan is increasingly working with public-sector clients in frontier markets.
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The blockchain-based cross-border payments platform will operate across 15 countries.