J.P. Morgan will launch a high-net-worth wealth management business in the United Kingdom, the bank announced today
J.P. Morgan will launch a high-net-worth wealth management business in the United Kingdom, the bank announced today. The Private Wealth Management business will be a part of J.P. Morgan Private Bank, which has been catering to ultra-wealthy families in the United Kingdom for over 50 years.
Olivier de Givenchy, head of J.P. Morgan Private Bank UK, said, “With our long legacy of catering to the world’s wealthiest families, the build-out of our Private Wealth Management business in the United Kingdom highlights our commitment to being the wealth manager of choice to the increasing number of high-net-worth clients in the region.”
Tracey Reddings will join J.P. Morgan in a newly created role as head of Private Wealth Management UK. Prior to joining J.P. Morgan, Reddings was head of UK Private Banking at SG Hambros, where she was responsible for the growth of the private banking team across the United Kingdom. Previously, she was CEO of CAF Bank Ltd and CAF Marketing Services Ltd. Reddings will report to de Givenchy.
“Tracey comes to J.P. Morgan with vast regional experience in wealth management and an impressive track record in helping high-net-worth clients manage their wealth,” Olivier de Givenchy explained. “Her breadth and depth of expertise reflects our dedication to delivering a world class service to our clients.”
The UK Private Wealth Management business is modelled on the existing private wealth management business in the US, and closely follows the launch JP Morgan’s wealth management business in Asia last year.