JPMorgan doubles Swiss business by targeting wealthy clients

JPMorgan doubles Swiss business by targeting wealthy clients

By Oliver Hirt ZURICH, Dec 1 (Reuters) – JPMorgan doubled its Swiss domestic private banking business between 2020 and 2024 and aims to do so again by 2030 as it targets the country’s wealthiest people, a senior executive at the U.S. bank said. “Our ambition as a firm is to be the premier international bank in Switzerland, and yes, with a strong footprint in the ultra-high-net-worth space,” Matteo Gianini, JPMorgan’s head of Swiss private bankin…

JP Morgan to double Swiss private banking business by 2030

JP Morgan has doubled the growth of its Swiss private banking between 2020 and 2024 and set a target to repeat this expansion by 2030, reported Reuters.  The US investment bank aims to achieve this target by focusing on Switzerland’s wealthiest individuals, a senior executive of the company told the news agency.  JP Morgan managed $55.6bn in Swiss private banking assets at the end of last year, with a significant portion sourced from domestic cl…