This publication reports on a top-level redeployment of an Asia-based manager at JP Morgan Private Bank.

One of the senior private banking figures for JP Morgan in Singapore, Nathan Slack, has left the city-state to take up a senior post at the same firm in Florida, this publication can exclusively report.

Slack, who was market manager, Southeast Asia at JP Morgan, will take up the role of market manager at the private banking side in Palm Beach, a spokesperson for the bank confirmed to this publication. Slack has been at JP Morgan in Singapore since 2009.

His role is being taken on by Rahul Malhotra, who has been at JP Morgan since 2010. He was formerly global head of NRI & South Asia at the firm. He was also peviously working in senior roles at Merrill Lynch on the wealth management side. The spokesperson said his career spans more than three decades.

This publication understands, meanwhile, that there have been several departures from JP Morgan in Southeast Asia to Deutsche Bank (see below); both banks declined to comment on what this publication has been told by a source:

Jan Richards – Former Head of Private Banking, JPM SEA (now Group Head, SEA at Deutsche Bank); Rasul Sheheryar – Former Executive Director & Senior Banker, JPM Singapore (now Deutsche Bank, MD & Senior Banker);  Arjun Ramani – Former Executive Director & Senior Banker, JPM Singapore (now Deutsche Bank, MD & Team Head – NRI & South Asia).

Among recent developments, JP Morgan has reported that its private banking arm logged revenues in the first quarter of this year of $1.5 billion, up 4 per cent compared with the first quarter of 2013. Revenue from institutional was $500 million, down 12 per cent, while retail logged $769 million, up 20 per cent.