Strategy

JPMorgan Tops US Wealth Management Table

Stephen Harris 16 July 2008

JPMorgan Tops US Wealth Management Table

JPMorgan Chase has topped a list of the 60 largest bank wealth managers in a new study published by the Bank Insurance Market Research Group and distributed by the Bank Insurance & Securities Association.

The New York-based bank has $8.07 billion in 2007 trust revenues according to the survey.

According to the study, the most widely-employed minimum for eligibility as a wealth management client was $1 million in investable assets. This was found to be the case in almost half of the 60 banks on the list.

The study also found that minimums were generally lower in the Midwest, and higher on the East and West Coasts of the US.

The highest threshold was found to be employed by New York's Bessemer Group, which, in 12th place, had a $10 million minimum.

Eighth placed Wachovia and HSBC North America, at 25th both  had $5 million minimum thresholds.

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