J.P. Morgan Private Bank Adds UHNW Family Office Services

The practice will partner with J.P. Morgan’s 23 Wall, a specialized global team providing strategic advice to large, wealthy families in regard to their privately owned assets, including operating companies, direct investments, sports teams and real estate.

Integrated into the private bank and the investment bank, 23 Wall expands the private bank’s coverage model to 700 families with $4.5 trillion of assets.

“Our clients are looking for highly customized solutions, innovative digital services and resources to address the growing complexities of multi-generational wealth,” said Andrew L. Cohen, J.P. Morgan Global Private Bank executive chairman.

“The launch of this practice will provide a robust solution set for family offices across the wealth spectrum. We are constantly innovating and identifying solutions, as well as leveraging intellectual capital across the firm that are valuable to families,” Cohen explained.

Sinclair noted the private bank “has a long history of advising successful families on how to manage their wealth, considering the unique source and composition of their assets, the dynamics and size of a family, and the infrastructure they choose to put around it.

“Tremendous wealth creation over the last two decades has created significant growth of family offices, as well as those looking for outsourced family office services. The launch of this dedicated practice is an intentional effort to meet this growing demand,” he said.

The U.S. Family Office Practice will be supported by a leadership and advisory team from across the private bank, including Jamie Lavin Buzzard, head of investments; Elisa Shevlin Rizzo, who has joined the firm as head of family office advisory for the Private Bank from Northern Trust; and Christopher McCree, a J.P. Morgan veteran who will serve as vice president and oversee day-to-day operations.

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