HomeFinancial AdvisorFA OnlineJ.P. Morgan Private Bank Adds $2B AUM Advisor Teams To NYC Office

J.P. Morgan Private Bank Adds $2B AUM Advisor Teams To NYC Office

J.P. Morgan Private Bank in New York City has added six veteran advisors who collectively oversaw more than $2 billion in client assets in their prior positions, the company announced.

The two teams will join J.P. Morgan in New York City, where the firm has doubled the amount of regional client assets it manages just over the past five years.

“The Private Bank is on the largest hiring and expansion journey it has ever embarked on, and New York City is a central part of this growth strategy,” J.P. Morgan U.S. Private Bank CEO David Frame said in a news release. “We are committed to hiring the industry’s most client-focused advisors, who are attracted to the firm by our strong brand reputation, breadth of our platform, and depth of our global resources.”

According to Nelle Miller, co-CEO of New York for J.P. Morgan Private Bank, location is a key component in finding advisors capable of working with the firm’s expanding clientele.

“As a major wealth center, New York offers an incredible opportunity for us to add new talent and attract new clients,” she said in the news release. “I’m thrilled to welcome our newest teams to the firm to support our efforts and look forward to partnering closely with them as our business across New York continues to grow.”

Industry veterans Meghan Bergman, Michael Kuziw and David Carter, with more than 60 years of combined experience, have joined the firm as managing directors, reporting to Kevin Sherman, New York market manager. The three-advisor team previously oversaw more than $1 billion in client assets at Wealthspire.

Seasoned professionals Amanda Johnson, Scott Walker, and Scott Thomas also bring 60 years of combined experience to the firm. They join as executive directors from Wells Fargo Private Bank, where the team collectively oversaw more than $1 billion in client assets in their previous roles. The trio will report to Robert Didiano, who recently joined J.P. Morgan from Wells Fargo to establish and lead a new Private Bank group in New York.

“I’m excited to be a part of the Private Bank’s New York expansion, and to build on the business’s momentum in the local market,” DiDiano said. “These advisors are outstanding additions to the team and bring a proven track record for helping clients achieve their most important financial goals.”

DiDiano said that J.P. Morgan is focused on developing and nurturing its internal talent because the firm values quality over quantity when it comes to recruiting advisors.

“The industry will always be competitive,” he said. “Those who succeed are investing in themselves, and we are providing them with career growth and opportunities to do what they do best by serving clients.”

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 New York region, the Private Bank is looking to hire as many as 350 advisors over the next five years and has already added 85 from the beginning of 2021 through the start of June 2022. Globally, the business has increased advisor headcount by 14% year-over-year, it said.

J.P. Morgan Private Bank provides customized financial advice to help wealthy clients and their families achieve their goals through an elevated experience. The Private Bank oversees more than $1.9 trillion in client assets worldwide.


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