JPMorgan Rebrands Wealth Management Business

The business units "will continue to have separate names, unique cultures and identities," she said, adding JPMorgan Chase's "Private Bank will remain a separate brand from the J.P. Morgan Wealth Management businesses."

In addition to J.P. Morgan Advisors, J.P. Morgan Wealth Management includes Chase Wealth Management, the You Invest online digital trading division, and the new "remote build," Harvey said. The latter was a reference to the firm's recently announced plan to hire hundreds of remote advisors.

Financial advisors will also now also be known as wealth advisors, a name he said "better conveys the clients you serve and the J.P. Morgan brand."

Regarding the firm's existing practice catering to ultra-high net worth families, he said: "We will officialize that going forward as Wealth Partners — and you will be hearing more from your Regional Director soon on this."

The changes follow reports late last year that JPMorgan was forming a new U.S. wealth unit by combining some $400 billion in assets with Chase Wealth Management and J.P. Morgan Securities.