Asset Management

At JP Morgan, $9m in assets isn’t rich enough

Firm’s private bank takes the bold move of doubling the minimum of investible assets its clients need to $10 million

Shift could affect about 10% of JP Morgan’s private bank clients
Shift could affect about 10% of JP Morgan’s private bank clients Photo: iStockPhoto

JP Morgan is making its private bank even more private.

Clients of the firm's private bank later this year will be required to have at least $10 million in investible assets, twice the current minimum of $5 million, said people familiar with the matter.

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