Private banking revenue
at JP Morgan suffered a 7% dip in the fourth quarter of 2011
although the US bank reported a 5% increase in total revenue for
the twelve months to December 2011.

Revenue at the bank
dropped from $1.3bn in the third quarter of 2011 to $1.2bn in the
fourth quarter.

This is a 12% decrease
from the 2010 fourth quarter revenue, which was $1.4bn.

 

AuM up 5% in
4Q

JP Morgan’s total
private banking revenue for 2011 rose from $4.9bn in 2010 to $5.1bn
in 2011.

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Assets under management
(AuM) at their private banking unit rose 5% in the last quarter of
2011 from $276bn to $291bn at the end of the fourth
quarter.

This last figure
represents an overall 2% increase from the fourth quarter 2010 when
they posted $284bn in AuM.

JP Morgan’s fourth
quarter report also showed that the number of client advisers in
the bank’s asset management section had grown from 2,281 in the
fourth quarter of 2010 to 2,444 at the end of the fourth quarter of
2011, a 7% increase.