J.P. Morgan Private Bank
Company
Company Profile
J.P. Morgan Private Bank, the global private banking division of JPMorgan Chase & Co, offers investment advisory and management; tax, trust and estate planning; capital markets and advisory services; lending solutions; and other specialty wealth advisory services.
It also offers day-to-day banking solutions for HNW and UHNW individuals and businesses, as well as private banking custody services and digital capabilities for US and non-US clients.
Headquartered in New York, the private bank operates in the Americas, Asia, the Middle East and Africa, and Europe. Overseeing more than $2.1 trillion in client assets globally, it focuses on the needs of ‘the most sophisticated clients’ who require the scope and breadth of a firm the size of J.P. Morgan.
History
JPMorgan Chase & Co’s history can be traced to 1799 and the founding of the Manhattan Company, its oldest predecessor institution. In its current structure, the bank is the result of the mergers of several US banks: Chase Manhattan Bank (formed when the aforementioned Manhattan Company purchased Chase National Bank), J.P. Morgan & Co. and Bank One, as well as Bear Stearns, Washington Mutual and First Republic.
Predecessors also include Chemical Bank, Manufacturers Hanover, First Chicago Bank, National Bank of Detroit, Texas Commerce Bank, Providian Financial and Great Western Bank.
In 1871, J.P. Morgan & Co. was founded by J.P. Morgan, who launched the House of Morgan on 23 Wall Street, offering commercial, investment and private banking services.
The Manhattan Company, which merged with Chase National Bank in 1955 to form the Chase Manhattan Bank, was acquired by Chemical Bank in 1996. It retained the Chase name to form what was then the largest bank holding company in the United States.
In 2000, J.P. Morgan merged with Chase Manhattan, with the new firm called J.P. Morgan Chase & Co, and four years later merged with Bank One Corporation, retaining the name JPMorgan Chase & Co. In 2008, amid the collapse of the housing and mortgage markets and onset of the global financial crisis, JPMorgan Chase & Co. acquired Bear Stearns and Washington Mutual to stabilise financial markets.
In 2010 J.P. Morgan acquired full ownership of its UK joint venture, J.P. Morgan Cazenove, which has a history dating to 1823.
In February 2019, J.P. Morgan announced the launch of JPM Coin, a digital token that will be used to settle transactions between clients of its wholesale payments business – namely corporations, banks and broker-dealers – the first real-world use of a digital coin by a major US bank.
In 2021, the company made more than 30 acquisitions of smaller companies, including ESG investment platform OpenInvest and UK digital wealth management platform Nutmeg.
Senior leadership
Chief Executive Officer of J.P. Morgan Asset and Wealth Management: Mary Callahan Erdoes
Chief Executive Officer of the US Private Bank: David Frame
Executive Chairman of the Global Private Bank: Andrew L. Cohen
Chief Executive Officer, Asia Private Bank: Kam Shing Kwang
Chief Executive Officer, EMEA Private Bank: Pablo Garnica Alvarez-Alonso
CEO, International Private Bank: Martin Guillermo Marron
Global Head of Trusts & Estates: Adam Clark
Private client services
Wealth planning and advice
J.P. Morgan Private Bank’s HNW and UHNW wealth managers advise individuals and families on:
Trust and estate planning
Philanthropic planning
Family governance
Private business advisory
Wealth structuring and strategy
Investing
The bank offers a range of investment strategies to suit varying styles and sentiments, as well as a number of lending, planning, banking and custody services. Portfolio management and advisory services are also available for clients with assets spanning equities, fixed income and alternative investments, and include:
Managed portfolio solutions
Sustainable investing
Brokerage
Outsourced CIO
The outsourced chief investment office team consists of 17 senior portfolio managers across the globe and manages more than $34.3 billion on behalf of clients such as higher-education institutions and schools; private and family foundations; arts, cultural and community organisations; hospitals and healthcare; charitable organisations and other not-for-profits; and family offices and associates.
Services include asset allocation; portfolio construction advice and execution; manager selection and due diligence; liquidity management; and administrative reports and support.
Lending
Locations
United States
The private bank has over 60 offices in the US, in: Atlanta, GA; Austin, TX; Baltimore, MD; Baton Rouge, LA; Boston, MA; Charlotte, NC; Chicago, IL; Cincinnati, OH; Cleveland, OH; Columbus, OH; Dallas, TX; Detroit-Birmingham, MI; East Bay, CA; Fort Lauderdale, FL; Fort Worth, TX; Grand Rapids, MI; Greenwich, CT; Houston, TX; Indianapolis, IN; Jacksonville, FL; Las Vegas, NV; Long Island, NY; Los Angeles, CA; Miami, FL; Milwaukee, WI; Minneapolis, MN; Naples, FL; Nashville, TN; New Orleans, LA; New York, NY; North Shore, IL; Oklahoma City, OK; Orange County, CA; Orlando, FL; Palm Beach, FL; Palo Alto, CA; Pasadena, CA; Philadelphia, PA; Pittsburgh, PA; Princeton, NJ; Salt Lake City, UT; San Antonio, TX; San Diego, CA; San Francisco, CA; Santa Barbara, CA; Sarasota, FL; Scottsdale, AZ; Seattle, WA; South Bay, CA; St. Louis, MO; Summit, NJ; Tampa, FL; The Rockies, CO; Tulsa, OK; Upstate New York; Washington, D.C.; Westlake Village, CA.
EMEA
From hubs in London, Luxembourg and Geneva and offices in Europe’s financial centres, the bank serves clients in 30 countries across Europe, the Middle East and Africa. The bank currently has offices in France (Paris); Germany (Frankfurt); Italy (Milan); Luxembourg, Belgium (Brussels), the Netherlands (Amsterdam); Spain (Madrid); Sweden (Stockholm); Denmark (Copenhagen); Switzerland (Geneva, Zurich); UK (London, Manchester).
Latin America
Clients here are managed by teams in New York, Houston, Miami and Geneva.
Asia
The private bank has offices in Hong Kong and Singapore.
Top 100
J.P. Morgan Private Bank
Power List
London
Top 100 2024 Power List
Top Flight
J.P. Morgan Private Bank
UHNW Wealth Managers
London
Top Flight 2024 UHNW Wealth Managers
Top Recommended
J.P. Morgan Private Bank
Wealth & Investing
New York
Top Recommended 2020 Wealth & Investing
Top Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
London
Top Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
Hong Kong
Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
Amsterdam
Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
London
Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
HNW Wealth Managers
London
Recommended 2024 HNW Wealth Managers
Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
London
Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
UHNW Wealth Managers
Luxembourg
Recommended 2024 UHNW Wealth Managers
Recommended
J.P. Morgan Private Bank
Private Equity & UHNW Alternative Assets
London
Recommended 2024 Private Equity & UHNW Alternative Assets
Notable
J.P. Morgan Private Bank
Power List
Geneva
Notable 2024 Power List