J.P. Morgan Expands Into Utah
Salt Lake City―J.P. Morgan today announced that it is expanding its Private Bank into Utah by opening its first local office in Salt Lake City. Veteran advisors Brian Swenson and Eric Smith will co-lead a team of local professionals who provide wealth management advice, strategies and services to successful individuals, family offices, foundations and endowments throughout the region.
“Utah is booming with the second-highest state GDP growth in the U.S., a strong startup community and one of the youngest and fastest growing populations in the nation,” said Barry Sommers, CEO, Wealth Management Group, J.P. Morgan. “This high-growth market for global families and businesses is a natural next step for the Private Bank.”
J.P. Morgan Private Bank has been serving clients in Utah for more than 17 years and five of the firm’s top advisors have joined the new Salt Lake City team. The office has also hired local talent over the last few months and plans to grow the team to as many as 20 advisors by 2021.
The firm’s entry into Salt Lake City is part of a larger expansion of J.P. Morgan Private Bank: a growth of nearly 1,000 new advisors across existing Private Bank locations and more than 20 new offices across the United States that will open by 2022.
“Establishing a permanent team in the state demonstrates the Private Bank’s commitment to the Utah business community, strengthens our existing relationships and will allow us to participate directly in Utah’s incredible growth story.” said Geoff Barker, the Private Bank’s Rockies Market Manager overseeing the Mountain West region and Utah.
Swenson, a Utah native and Brigham Young University alumni, joined J.P. Morgan in 2005 in Denver, Colorado where he worked with clients across the Rocky Mountain States and assisted in the opening of the Arizona Private Bank office. Before moving back to Denver in 2015, he worked in J.P. Morgan’s San Francisco and Palo Alto Private Bank offices, and most recently was based in London where he opened the Global India Team’s London office and oversaw the investment activities of clients based in the United Kingdom, Europe and the Middle East. Swenson, along with much of the new office, have been serving clients across Salt Lake City, Park City and Silicon Slopes for several years.
“Utah’s economic growth comes from various sectors and industries resulting in diversified wealth creation,” said Swenson. “Within Utah’s growing business ecosystem there’s an enormous opportunity for its citizens to grow their wealth, and we’re here to help amplify that growth and navigate that process.”
Smith, also a Brigham Young University alumni, has deep roots in Salt Lake City. He has worked with clients in Utah for several years, having joined J.P. Morgan Private Bank in 2011 as a Banker, responsible for developing and managing relationships with individuals, families, family offices and foundations throughout the state.
“Providing access to the breadth of J.P. Morgan’s global resources will add tremendous value for our clients and the broader Utah market,” added Smith.
To learn more about the new Private Bank office in Salt Lake City, visit https://am.jpmorgan.com/private-bank/public/gl/en/global-offices-us-utah-salt-lake-city
About J.P. Morgan Private Bank
J.P. Morgan is a global leader in financial services to corporations, governments, for-profit and not-for-profit institutions and wealthy individuals. Through the Private Bank at J.P. Morgan, the firm delivers customized wealth management advice and solutions to wealthy individuals and their families, leveraging its broad capabilities in investing, family office management, philanthropy, credit, fiduciary services and special advisory services to help its clients advance toward their own particular goals. For more than 150 years, the Private Bank’s comprehensive and integrated product offering, commitment to innovation and integrity, and focus on placing the interests of its clients first and foremost have made J.P. Morgan an advisor of choice to people of significant wealth around the world.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.