JPMorgan Chase has named David Frame as global head of its private banking division, part of a broader restructuring aimed at delivering more integrated services to ultra-high-net-worth clients worldwide.
Frame, who previously led the firm’s U.S. private bank, will now oversee operations across all regions, marking the first time the business has operated under a single global leadership structure. The change is intended to improve alignment across markets and support clients with increasingly cross-border financial needs.
The appointment comes as private banking clients seek greater access to international investment opportunities amid heightened geopolitical risk and economic volatility. JPMorgan, which manages close to USD 3 trillion in client assets across its private bank, said demand has increased for advice and products that span jurisdictions and asset classes.
as reported by The Wall Street Journal, part of the restructuring is the expansion of the bank’s physical footprint in key wealth markets. Following the 2023 acquisition of First Republic, several branches have been converted into J.P. Morgan Financial Centres. These sites offer investment and advisory services to clients with at least USD 750,000 in assets. JPMorgan plans to open 31 such centres by 2026, with new locations in Manhattan, Palm Beach, Napa, and Cambridge among those slated to launch this year.
Leadership changes have also been made across the EMEA region. Maricé Brown, previously with the bank in Mexico, has been appointed head of the UK private bank, replacing James Todd. New appointments have also been made in continental Europe, the Middle East, and Switzerland, aligning the organisational structure with the bank’s global model.
The reorganisation reflects JPMorgan’s focus on scaling its private bank while maintaining personalised service for clients with complex and international portfolios. The firm said the new structure would allow for more consistent service delivery and closer coordination between regions.
