JPMorgan's private bank expands business in Mexico -regional CEO [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
JPMorgan's private bank expands business in Mexico: regional CEO | Reuters 3 Min Read MEXICO CITY (Reuters) - JPMorgan Chase & Co’s ( JPM.N ) private bank is expanding in Mexico and elsewhere in Latin America, the unit’s regional CEO said on Wednesday, as wealth creation and political changes bolster the sector’s prospects. The bank plans to increase the number of its frontline private bankers in Latin America by 15 percent, the executive, Adam Tejpaul, said in an interview. JPMorgan Private Bank employs 450 people in the region and most of then work as client advisers. BBVA Bancomer, Citi, Credit Suisse and Santander all have private banking businesses in Mexico as has the largest Mexican bank Banorte. The bank’s growth priorities are Mexico, Argentina and Colombia, Tejpaul said, although it also serves clients in Brazil, Chile, Peru and even Venezuela, despite the country’s economic and political crisis. Tejpaul said the increased regional headcount should help the bank to expand
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