J.P. Morgan Private Bank said Tuesday it had hired a three-person team of Chicago-based private bankers rival Citigroup who oversaw more than $2 billion in client assets in their prior positions.
Two of the bankers, Amy Welzer and Jennifer Jones, had previously been registered with J.P. Morgan Securities and will have the titles of managing director and executive director, respectively. The third member of the team, Steven Hoffman, will be an associate.
The team will report to Neal Gram, managing director and Chicago market manager, J.P. Morgan said in its announcement.
Across the Chicago region, the J.P. Morgan Private Bank is looking to hire as many as 75 advisers over the next five years and has already added 60 from the beginning of 2021 through the start of June 2022, the company said in its statement..
JPMorgan Chase & Co. is in hiring mode. In May, the bank said it planned to add about 1,300 financial advisers over the next three years as part of a strategy to boost assets in its wealth management operation to $1 trillion.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
