FRANKFURT: JPMorgan Chase & Co is hoping to grab a larger slice of Germany’s private-banking market as wealthy individuals increasingly turn to international companies for advice.
However, the company is seeing a “growing willingness to add a third pillar, and it’s often one from the Anglo-Saxon world,” Straengh said in an interview. At the same time, many of JPMorgan’s German clients are investing more internationally, “out of the DAX and bunds and into the US and emerging markets,” Straengh said.
To tap into that growth, JPMorgan is looking to hire more private-banking staff in Germany after adding three advisers and one portfolio manager last year.
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