Latest news with #MaryCallahanErdoes
Yahoo
04-07-2025
- Business
- Yahoo
JPMorgan Chase appoints David Frame as global private bank CEO
JPMorgan Chase has appointed David Frame as the global CEO of its private bank, effective immediately. This move positions Frame, previously the US private bank CEO, to lead the bank's private banking operations on a global scale, reported Reuters. The private bank, part of JPMorgan's asset and wealth management division, caters to high-net-worth clients. The private banking sector has gained prominence as global lenders aim to strengthen ties with wealthy clients and access the expanding global wealth pool. In addition to investment management, private banks provide services like lending, estate planning, and philanthropy, contributing to stable fee income and diversifying revenue streams away from Wall Street's volatility, reported the media outlet. With over $2.9tn in client assets under management, JPMorgan's private banking business is a significant player in the industry. As geopolitical tensions and economic uncertainties rise, wealthy investors increasingly seek global private banks for cross-border investment advice and access to private markets. Frame will continue to report to J.P. Morgan Asset and Wealth Management CEO Mary Callahan Erdoes, who oversees more than $6tn in assets. In May, JPMorgan Chase opened 14 new financial centres in the four US states of California, Florida, Massachusetts, and New York. The expansion follows the establishment of two additional centres in late 2024, bringing the total to 16, with plans to nearly double this number by the end of next year. "JPMorgan Chase appoints David Frame as global private bank CEO" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
03-07-2025
- Business
- Reuters
JPMorgan names insider David Frame global CEO of private bank
July 3 (Reuters) - U.S. banking giant JPMorgan Chase (JPM.N), opens new tab on Thursday named insider David Frame as the global CEO of its private bank, effective immediately. Housed within the largest U.S. bank's broader asset and wealth management business, the private bank offers investment solutions to high-net-worth individuals and families. Private banking has become an increasingly important business for global lenders as they seek to deepen relationships with wealthy clients and tap into the growing pool of global wealth. Beyond managing investments, private banks offer lending, estate planning and philanthropy services, helping to drive steady fee income and diversify banks' revenue streams away from more volatile and market sensitive Wall Street operations. In the new role, Frame will lead the private bank globally, expanding his responsibilities beyond his current role as U.S. private bank CEO. JPMorgan's private banking business oversees more than $2.9 trillion in client assets globally. Rising geopolitical tensions and economic uncertainty are pushing wealthy investors to spread their money across markets and asset classes. Demand is growing for global private banks that can offer cross-border investment advice, access to fast-growing private markets and help navigate risks tied to conflicts and trade disputes. The bank said Frame will continue to report to Mary Callahan Erdoes, CEO of J.P. Morgan Asset and Wealth Management, which oversees over $6 trillion in assets.
Yahoo
03-07-2025
- Business
- Yahoo
JPMorgan names insider David Frame global CEO of private bank
(Reuters) -U.S. banking giant JPMorgan Chase on Thursday named insider David Frame as the global CEO of its private bank, effective immediately. Housed within the largest U.S. bank's broader asset and wealth management business, the private bank offers investment solutions to high-net-worth individuals and families. Private banking has become an increasingly important business for global lenders as they seek to deepen relationships with wealthy clients and tap into the growing pool of global wealth. Beyond managing investments, private banks offer lending, estate planning and philanthropy services, helping to drive steady fee income and diversify banks' revenue streams away from more volatile and market sensitive Wall Street operations. In the new role, Frame will lead the private bank globally, expanding his responsibilities beyond his current role as U.S. private bank CEO. JPMorgan's private banking business oversees more than $2.9 trillion in client assets globally. Rising geopolitical tensions and economic uncertainty are pushing wealthy investors to spread their money across markets and asset classes. Demand is growing for global private banks that can offer cross-border investment advice, access to fast-growing private markets and help navigate risks tied to conflicts and trade disputes. The bank said Frame will continue to report to Mary Callahan Erdoes, CEO of J.P. Morgan Asset and Wealth Management, which oversees over $6 trillion in assets.
Zawya
10-06-2025
- Business
- Zawya
JP Morgan appoints Claude Kurzo as asset management head for Middle East
JP Morgan has appointed former UK country head Claude Kurzo as its new Head of Middle East for its asset management division, effective immediately. Kurzo joined JP Morgan Asset Management (JPMAM) in 2012 and has held senior leadership roles in London, New York and Zurich, including Global Head of Strategy, Country Head Switzerland and Country Head UK. Before joining JPMAM, Kurzo worked for McKinsey in the Middle East and Switzerland. In his current role, Kurzo will report to Patrick Thomson, EMEA CEO at JPMAM. The investment bank said the appointment of Kurzo marks the next step for JPMAM as it seeks to expand its presence in the Middle East. Kurzo's appointment comes weeks after Mary Callahan Erdoes, CEO of the firm's asset and wealth management business said at the Qatar Economic Forum that the US lender was planning to add more than 100 staffers to its businesses across the Middle East in a bid to ramp up operations in the region. With the new hires, the bank's current head count of 370 employees will inch closer to 500 in the Middle East. (Writing by Bindu Rai, editing by Seban Scaria)
Yahoo
21-05-2025
- Business
- Yahoo
JPMorgan's Headcount in Mideast to Rise to 500: Erdoes
JPMorgan's asset and wealth management chief Mary Callahan Erdoes says the bank is planning an increase in its headcount across the Middle East, which will see an increase from 370 to 500 employees in the region in the next one to two years. She speaks to Bloomberg's Joumanna Bercetche at the Qatar Economic Forum 2025, powered by Bloomberg. Sign in to access your portfolio
