J.P. Morgan has announced the launch of the JP
Morgan Family Offices Solutions Team in Europe, Middle East and
Africa, to provide customized services to family offices in the
region.

Samy Dwek will lead the group, which will
focus on single family offices with a net worth of over $500m.

Dwek said the group will offer a range of
customized services, including tailored investment strategies,
wealth planning, advice on family governance, philanthropic
initiatives, and succession planning throughout the family office
life cycle.

The team will also arrange exclusive events
that will allow family offices from throughout the region to
network and engage in conversations with influential leaders and
experts.

Private Banking Trend

J.P. Morgan joins other major private banks
with a specialist group providing services to external family
offices.

In 2010 HSBC formed a Family Office Partners
Service also aimed at clients with $500m net in assets.

Citi then established a Global Family Office
Group open to external clients, offering services to clients with
$25m or more in net assets.

UBS and Credit Suisse also set up family
office hubs that year, following on Merrill Lynch’s 2007 launch of
its specialist family office unit.