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.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
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