J.P. Morgan Private Bank: Impeccable Ideas for the World’s Billionaires


J.P. Morgan Private Bank Impeccable Ideas for the World’s Billionaires

The trusted name in stability and prudent management has further cemented its stature in the echelons of private banking’s best when it swept major awards at the recent Global Private Banking Innovation Awards 2020 (GPB Awards) organised by The Digital Banker. J.P. Morgan nurtures strong relationship with 50% of the world’s deca-billionaires, or those who have in excess of $10 billion in wealth. Its focus on customised solutions and ideas to help manage the financial situation of their clients has helped deepen its relationship regardless of market conditions.

Reflecting this outstanding reputation are the prestigious awards received by J.P. Morgan Private Bank (JPM PB) at the recent Global Private Banking Innovation Awards 2020. The awards include:

  • Winner, Best Private Bank Singapore
  • Winner, Best Private Bank Asia
  • Winner, Best Private Bank – North America
  • Winner, Best Private Bank for Client Experience
  • Winner, Best Private Bank for Digital Client Communication
  • Winner, Most Influential Female Leader, Asia – Kam Shing Kwang
  • Highly Acclaimed, Best Private Bank Hong Kong
  • Highly Acclaimed, Best Private Bank for UHNW Clients

The Global Private Banking Innovation Awards 2020 (GPB 2020) organised by The Digital Banker is the world’s most trusted and transparently judged private wealth awards. GPB Awards exists to identify the best of the best in ESG, Structured Investments, Family Office Services, Discretionary Services, FX & Cash Management and more.

Judging this year’s awards are subject-matter experts known for their integrity and unbiased adjudication from companies such as Forrester, Protiviti and EY. Previous year’s judges include PwC, KPMG, and Fuji Xerox.

“J.P. Morgan Private Bank always aspires to be the best at what they do. Everything starts and finishes with the strengths of their investment performance coupled with excellent client experience and constant innovation to support growth. At the same time, it builds on its digital and mobile capabilities, providing human and digitally enhanced advice. Needless to say, J.P. Morgan has all the bases covered,” said Nirav Patel, Managing Director at The Digital Banker, the organiser of the Global Private Banking Innovation Awards during the awards presentation.

J.P. Morgan nurtures strong relationship with 50% of the world’s deca-billionaires, or those who have in excess of$10 billion in wealth.

Exceptional Digital Client Communication

J.P. Morgan Private Bank provides clients and invited guests with written and video content via a proprietary platform – Ideas & Insights – to inform and educate. The aim is to give its readers perspectives which will help them shape their views across a range of topical wealth management matters. Whether it be macro opinions, advice on talking with children about wealth or support in their philanthropic journey, Insights is there to inform and educate. In 2019, over 1,000 pieces of content were shared with its readers via Insights.

In addition, the Private Bank aims to communicate with clients in the way in which they choose. The J.P. Morgan Private Bank WeChat channel and LinkedIn channel share commentary with followers on current trends and themes that are relevant to the management of their wealth. Using both videos and written articles, followers are given insights from J.P. Morgan experts. In 2019, the average content engagement rate of its WeChat official account reached over 60%, much higher than the average of WeChat service accounts (at 8%). Since the launch of the two-way WeChat communication in February 2020, which enables its advisors to securely chat with clients via WeChat platform, over one third of the Bank’s Chinese clients are now connected with JPM PB via this new e- communication channel.

In the broader areas of technology and innovation, JPM PB is building a digital wealth offering that provides clients access to proprietary tools that complement their personal relationship with an advisor. Artificial intelligence, big data and machine learning are helping the team reduce risk and fraud, upgrade its service offerings, improve underwriting and enhance marketing across the firm.

Overall, the shared technology infrastructure decreases costs, enhances efficiency and improves the client experience.

Standout Client Experience

Aside from continuous enhancement of its digital engagement with clients,  JPM PB also hosts an annual flagship technology-focused event in China that brings together entrepreneurs and investors from around the world to discuss investments in topical technology areas such as artificial intelligence, cybersecurity and other macro trends.

The team at JPM PB is building everything digital while recognising the unique needs of its clients – from onboarding to idea generation to better support and service. While its trusted advisors will always be the center of client relationships, technology has helped the Bank drive engagement, deepen connections, improve efficiency, and modernise processes which increase value to clients and enhance their banking experience.

Across the company JPM PB have thousands of employees who are data scientists or have advanced degrees in science, technology, engineering, and math. Of the nearly 50,000 people in technology at the company, more than 31,000 are in development and engineering jobs, and more than 2,500 are in digital technology. These talented individuals are focused on driving change across the company and leveraging data to drive enhanced solutions for clients.

Most importantly, the importance placed on privacy and security is beyond compare. J.P. Morgan spends an enormous amount of resources to protect all of its clients from fraud, cybersecurity risk and invasion of their privacy. As part of this, a client education team within the Bank are tasked to consistently educate customers about privacy issues, which will become increasingly critical for all industries as consumers realise the severity of the problem.


>> To read more about this story and other exclusive features about the global private banking landscape, download the latest issue of Global Private Banker Magazine HERE.


Image: Shutterstock.com / Hitman H



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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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