JP Morgan Private Bank rebalancing Asia staff

JP Morgan Private Bank has made significant changes to its Asian business in the past few years, most notably to redress the balance between its Hong Kong and Singapore headcounts. As recently as 2009, around 80% of the firm's staff were located in Hong Kong, with the remainder in the Lion City. That ratio is more like 60/40 now and is expected to hit 50/50 in the next couple of years, says Peter Flavel, chief executive of private wealth management for Asia. Moreover, the total As…