JPMorgan campaign targets international client segment
de Givenchy: called in to lead
Bank searches for greater visibility by basing its meet-the-customers strategy in London.
JPMorgan Private Bank is shaking up its service for European clients. Central to the strategy is the creation of a new department devoted exclusively to the needs of international clients residing in the UK but not domiciled there. The bank estimates this segment of the market has a combined wealth of well over E100bn. Much of this is thought to be held in family companies and large single stock positions. Olivier de Givenchy, who manages relationships with French and Italian customers throughout Europe, has been called in to lead the new department, to be based in London. While continuing to serve his existing customers, Mr de Givenchy will develop tailored wealth planning and transfer strategies. Meanwhile, Domenico Romeo, head of the private client multi-manager group, is moving up to become co-head of UK private banking investments, alongside John Manossouf. His switch away from fund selection will see him representing the investment side of the business to clients, including going out to visit customers with relationship managers. Mr Romeo revealed that one of his key aims would be to improve awareness of JPMorgan Private Bank in the UK. The name is a new one, having emerged following the acquisition of Fleming. “The name JPMorgan Private Bank has not been particularly helpful in the UK market in gaining us visibility,” he said. “We will now be working hard to change this.”
de Givenchy: called in to lead
