J.P. Morgan Private Bank adds two billion-dollar advisor team to its Chicago business

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Aug 02, 2022, 09:08 ET

NEW YORK, Aug. 2, 2022 /PRNewswire/ -- J.P. Morgan Private Bank announced today that it has hired a three-person team in Chicago that collectively oversaw more than $2 billion in client assets in their prior positions, as well as a team lead for its Winnetka office. The Private Bank's Chicago market has seen extensive growth over the past five years and has and has doubled its business in terms of assets managed.

"The greater Chicago area has long been an important market for our business, and it is a critical part of our growth and expansion plans," said David Frame, Chief Executive Officer, J.P. Morgan U.S. Private Bank. "These new hires are tremendous additions to the team and terrific examples of our commitment to hiring the most client-focused advisors in the industry."

With over five decades of combined experience, Amy Welzer, Jennifer Jones and Steven Hoffmann joined the firm from Citi Private Bank. The team collectively oversaw more than $2 billion in client assets in their previous roles, and will report to Neal Gram, Managing Director, Chicago Market Manager.

Rejoining the firm as a Managing Director and Banker, Amy Welzer serves ultra-high-net worth individuals and families providing tailored wealth planning needs including investments, trust and estate, banking, and philanthropy.
Jennifer Jones also rejoins the firm as an Executive Director and Banker providing wealth planning services to ultra- high-net worth individuals and families ranging from investments, trust and estate, banking, and philanthropy.
Steven Hoffmann joins the firm as an Associate and Banker responsible for providing comprehensive investment and relationship support for families and ultra-high-net worth individuals.

"I had the great fortune of working with Amy and Jennifer during their time at JPMorgan and have seen first-hand the value and expertise they can offer to our clients and teams," Gram said. "I am thrilled to welcome them back to the firm and look forward to the positive impact the entire team will have in helping clients achieve their most important financial goals."

Additionally, Jaime Freeman joined as a Managing Director, Market Team Lead in Winnetka reporting to Maggie O'Brien, Managing Director, Team Lead and Banker in Chicago and Winnetka. Jaime brings more than 16 years of industry experience, a proven track record for delivering an exceptional client experience and providing integrated solutions across wealth planning, investment management, trust services and insurance. She joins the firm from BMO Wealth Management, where she was a Managing Director.

J.P. Morgan Private Bank last year announced plans to double its advisor headcount by adding 1,500 new advisors by 2026. Across the Greater Chicago region, the Private Bank is looking to hire as many as 75 advisors over the next five years and has already added 60 from the beginning of 2021 through the start of June 2022. Globally, the business has increased advisor headcount by 18% year-over-year.

About J.P. Morgan Private Bank

J.P. Morgan Private Bank provides customized financial advice to help wealthy clients and their families achieve their goals through an elevated experience. Clients of the Private Bank work with dedicated teams of specialists that bring their investments and financial assets together into one comprehensive strategy, leveraging the global resources of J.P. Morgan across planning, investing, lending, banking, philanthropy, family office management, fiduciary services, special advisory services and more. The Private Bank oversees more than $1.9 trillion in client assets globally. More information about J.P. Morgan Private Bank is available at privatebank.jpmorgan.com/.

SOURCE J.P. Morgan Private Bank