JPMorgan is looking to double its HNW and affluent business by adding more bankers.

The bank said it so far has only captured 1% of the HNW ($3-5m) market.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

For its Chase affluent business ($500,000-$5m), it said it has only captured 4% of the market.

In an annual letter to shareholders, JPMorgan’s CEO, Jamie Dimon, said: “We have no doubt that we can grow by adding bankers and locations, particularly because we have some exciting new products coming soon. There is no reason we can’t more than double our share over the next 10 years.”

The bank said that it owns 8% of the US UHNW market ($10m or greater).

Asset management had a revenue of $6.34bn in 2017 while wealth management revenue stood at $6.57.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Since 2006, the bank’s revenues and long-term AUM have grown more than 90%. The bank’s total assets have from $1.3trn in 2016 to $2.8trin in 2017.

The bank has more than 2,600 wealth management advisors.