JPMorgan Chase & Co. plans to double the number of private bankers serving Chinese clients from Singapore over the next two years, signaling its ambition to tap growth from Asia’s second-largest wealth market.
The U.S. bank currently has more than a dozen relationship managers serving Chinese residents and those on the mainland from the city-state, said James Wey, the new head of Southeast Asia private banking. “With rapid wealth creation in China, there is a need for insightful advice around how to manage the new-found wealth,” he said in an interview.
