JP Morgan’s private banking arm posted a
marginal 3% increase in assets under management (AuM) for the
fourth quarter of 2010.
The private bank’s AuM rose to $284bn in the
last quarter to 31 December 2010, a 5% gain on the same quarter
last year.
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Total AuM, including assets in private
banking, institutional and retail divisions, stood at $1,298bn,
with 66% of the bank’s assets managed for clients in the US and
Canada.
Strong revenue
performance
2010 fourth quarter revenue from private
banking was $1.4bn, up 18% compared to the same quarter in
2009.
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By GlobalDataThe full year revenue from JP Morgan’s private
banking client segment was reported at $4.9bn, an increase of 13%
compared with 2009 full year figures.
JP Morgan private banking earnings include
private bank, private wealth management and JP Morgan Securities
client segments.
