Best private bank for diversity & inclusion
Best private bank for wealthy women

During the pandemic, J.P. Morgan private bankers were able to deepen relationships with their clients, providing views on the world, the economy and market solutions, and also to engage more with the next generation, explains Martin Marron, CEO, J.P. Morgan Private Bank, International. “Clients strongly appreciated that, during such turbulent and uncertain times, J.P. Morgan Chase remained a place of strength, from the perspective of both our balance sheet and investment performance.” The bank hosted hundreds of virtual events, recording “greater attendance and appetite than we could have ever imagined”. Digital became a larger part of its offering, with the institution continuing to invest in its online capabilities, e-delivery of important materials and digital enhancements across the platform. Yet, clients also expect human interaction when it comes to personalised advice, the facilitating of family meetings, or help managing through transition events, he adds. The mix of “trust, discretion of integrity” helped the private bank attract around $16bn in net new money in 2020, contributing to the 10 per cent growth in client assets to $690bn. “Our continued results are directly related to the calibre of people and investment performance we continue to deliver for our clients, year after year,” states Mr Marron. The bank has long been committed to diversity and inclusion around the globe. Internally, it boasts “a very vibrant and engaged network” of more than 200 business resource groups. These include those on gender and racial equity, such as Women on the Move, the Black Organization for Leadership Development, PRIDE, focused on the LGBT+ community and Adelante, a Latino/Hispanic business resource group. The bank also developed allyship programmes, began a women and wealth ambassador initiative and launched initiatives aimed at engaging affluent people of colour through conversations, experiences and content. In the UK, J.P. Morgan Private Bank released the results of its first-ever ‘Top 200 Female-Powered Businesses’ report, analysing opportunities and challenges for women in businesses. One of the key findings was that businesses powered by women were disproportionately found in sectors negatively impacted by the pandemic, such as the leisure, entertainment and personal service industries. “We will use the knowledge and experience we gained through this work and the ongoing partnership with our female clients to enhance the services and advice we provide to fuel female ambition and support women in business,” concludes Mr Marron. ET