Finance
JPMorgan's First Republic Deal Turbocharges Dimon's Ambitions in Wealth Management
- Failed bank had about $290 billion in wealth management assets
- JPMorgan doesn’t plan to keep First Republic name, Dimon says
A pedestrian enters a First Republic Bank branch in New York.
Photographer: Gabriela Bhaskar/BloombergAt JPMorgan Chase & Co.’s 2022 investor day, Jamie Dimon told the audience to “watch out” for its wealth-management business.
“One of our greatest opportunities” is locking in a greater share of high-net-worth clients, the bank’s chief executive officer said about a year ago.