COVID-19 update included
The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic


Summary

Our ’J.P. Morgan Private Bank - Competitor Profile’ provides a comprehensive analysis of J.P. Morgan’s private banking and wealth management operations. It offers insight into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service proposition are also covered, along with product innovation and marketing activities.

JPMorgan Chase & Co. is a US-based financial services company and the parent holding company of both J.P. Morgan and Chase. J.P. Morgan Private Bank is a brand used by the company’s Asset & Wealth Management business segment to cater to individuals and institutions with more than $10m in investible assets.


Scope

  • J.P. Morgan Private Bank mainly targets ultra-high-net-worth (UHNW) individuals with more than $10m in liquid assets. In December 2019, J.P. Morgan reorganized its US wealth business by combining it with the Chase branch network’s financial advisory business. Consequently, in October 2020, the bank altered the branding of its overall wealth management business into J.P. Morgan Wealth Management, which focuses on serving wealthy investors, particularly affluent clients (those with up to $25m in assets).
  • The US remains J.P. Morgan’s largest market, with 54 offices across 26 states and Washington, DC. To expand its business in the domestic market, J.P. Morgan Private Bank opened a new office in Las Vegas in October 2020.
  • The bank is also focusing on growth in Europe and Asia Pacific by introducing new office locations and hiring additional relationship managers. Amid Brexit, J.P. Morgan is planning to consolidate its three European units in Germany, Ireland, and Luxembourg into a single unit based in Frankfurt, Germany. The new organization will be named J.P. Morgan S.E.
  • Amid the global crisis, J.P. Morgan’s operating revenues declined by 0.5% in Q1 2020 as compared to Q4 2019, particularly due to a drop in revenues in all divisions. However, with the slowing infection rate, the revenues increased by 16.5% in Q2 2020 as compared to Q1 2020. The growth was short-lived, however, as the group’s revenue reported a decrease of 11.5% in Q3 2020 as compared to Q2 2020.
  • J.P. Morgan is focusing on green, social, and economic development investments. In January 2020, it launched the Development Finance Institution to help identify opportunities for financial and developmental returns.




Reasons To Buy

  • Examine the financial performance, key ratios, and AUM growth of J.P. Morgan Private Bank, and benchmark this competitor against other global wealth managers
  • Understand its current strategic objectives and their impact on financial performance.
  • Discover J.P. Morgan Private Bank’s key products and its client targeting strategies and examine whether these have been successful.
  • Learn more about its private banking marketing strategy, social media presence, and digital innovations.