JP Morgan hires Peter Flavel to run high-net-worth business
The former head of Standard Chartered Private Bank will run the new, dedicated high-net-worth unit at JP Morgan's private-wealth arm, after overseeing rapid expansion at his previous firm.
Having built Standard Chartered's wealth-management arm into an operation with $40 billion in client assets in the short space of three years, Peter Flavel is on the move.
His new employer, JP Morgan, will be hoping he can preside over a similarly successful expansion of its own Asia-Pacific wealth-management business, amid increasingly fierce competition from both existing players and new entrants.
The US firm yesterday signalled plans to pursue a significant build-out of its high-…
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