JPMorgan’s deal for First Republic fuels Dimon’s wealth management ambitions
The failed bank, which had about $290 billion in wealth management assets, will increase JPMorgan’s reach to high-net-worth clients in what it deems attractive locations.
At JPMorgan Chase & Co.’s 2022 investor day, Jamie Dimon told the audience to “watch out” for its wealth-management business.
“One of our greatest opportunities” is locking in a greater share of high-net-worth clients, the bank’s chief executive officer said about a year ago.
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