JP Morgan has announced Michael Boardman, formerly a private client boss at US Bancorp, is joining as the new chief executive of Chase Wealth Management, part of the group and managing $179 billion of assets.

In his role, Boardman has been given the job of growing Chase Private Client and Chase Investments, working with the private bank of JP Morgan. He reports to Barry Sommers, CEO of the consumer bank, and based in New York.

The appointment came about after Sommers, who had been serving as CEO of Chase WM, was made CEO of the Consumer Bank for Chase in May. He has held the two roles since then. 

Boardman's job, which puts him at the helm of a firm with more than 3,000 advisors, sees him come from US Bancorp where he was president of the Private Client Reserve.

Boardman has a 25-year career in wealth management.  He previously worked at US Trust where he was most recently head of the Midwest region, and earlier at Charles Schwab as vice president in business strategy. He began his career at Chemical Bank in the credit training program. He worked at JPMorgan Chase and its predecessor firms for 14 years across global asset management, private wealth management and corporate strategy.

Chase Wealth Management has put some solid numbers on the board recently, it says. Client investment assets grew 16 per cent in the third quarter of 2013 to an all-time high, and investment sales were up 30 per cent, year-on-year.