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JP Morgan names Nelle Miller and William Sinclair co-CEOs of its US Private Bank
Developing
In Short: JP Morgan has appointed Nelle Miller and William Sinclair as co-CEOs of its US Private Bank, a division that manages over $2.4 trillion in assets, according to a statement from the company.
JP Morgan has appointed Nelle Miller and William Sinclair as co-CEOs of its US Private Bank, a division that manages over $2.4 trillion in assets, according to a statement from the company. Miller and Sinclair will lead a team that has served important clients through various market cycles and family milestones.
Both leaders have extensive experience within the firm, with Miller starting in 2002 and Sinclair in 2007, working with a range of clients including business leaders, hedge fund managers, and J.P. Morgan itself.
Background
Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets. Private banking is presented by those who provide such services as an exclusive subset of wealth management services, provided to particularly affluent clients.
What's still developing
- The Private Bank is one of the largest providers of wealth management services with more than $2.4 trillion in total client assets and 57 offices nationwide, according to its website.
- "I have spent my career alongside clients through market cycles and the most meaningful moments in their families’ lives, and Will and I are fortunate to lead a team that knows our clients just as deeply," Miller said in a statement, according to outlet Pulse 2.0.
- "Nelle and I are honored to take on this responsibility together and bring the global scale of the Private Bank to families and markets across the U.S.," Sinclair said in a statement, Pulse 2.0 reported.
- Miller also serves on the Asset & Wealth Management Operating Committee and the Global Private Bank Operating Committee and chairs the Advisory Council for the New York City Market Leadership Team.
- Private Bank, the New York business, along with the Family Office Investments and Advice, overseeing the company’s Global Investment Opportunities, outsourced chief investment officer and Morgan Private Advisory organizations nationally, "serving the firm's largest families and most complex clients." Miller was a founding member of the Global Investment Opportunities team.
- Morgan in 2002 on the Institutional Equities Desk, where she covered New York-based hedge funds and mutual funds as a research salesperson.
- "Nelle continues to personally advise some of New York's most prominent families," her biography on the J.P.
- "As a leader of the Private Bank, she is a dedicated mentor to many young women across the firm and takes an active role in their career." Sinclair, who joined J.P.