J.P. Morgan Private Bank said Thursday that a three-person advisor team joined the firm in Seattle after collectively overseeing over $2 billion in client assets in their prior positions at Citi Private Bank.
The advisors specialize in offering comprehensive investment and wealth planning guidance to clients, J.P. Morgan said.
Citi declined to comment on Tuesday.
Why it matters: J.P. Morgan is pushing to expand the work it does for high-net-worth and ultra-high-net-worth clients. Adding a team with $2 billion in client assets supports this push at the expense of Citi, which also wants to improve the business it does with wealthy investors.
What to know: J.P. Morgan Private Bank has "seen continued growth throughout the West region, including Puget Sound," according to Olivier de Givenchy, managing director, region head of the West for J.P. Morgan Private Bank.
