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Wealth Management

Jets and luxury homes: why private banks are homing in on the ultra wealthy

This week’s wealth management stories all in one place

By Kristen McGachey
JPMorgan is among a cohort of banks ramping up hires to service ultra high net worth clients
JPMorgan is among a cohort of banks ramping up hires to service ultra high net worth clients Illustration: Sensvector/Getty

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Private banks are on a mission to woo the ultra wealthy — the (private) jet-setting crowd whose fortune is worth seven to eight-figures at a minimum and are lucky enough to own many luxury properties (maybe even their own private island).

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