Consumer Banking
JPMorganChase Opens Flagship Financial Centers for Affluent Clients
Plans call for more than 30 New Financial Centers to be opened by end of 2026
NEW YORK & SAN FRANCISCO, OCTOBER 16, 2024 – JPMorganChase today unveiled its newest branch format, the J.P. Morgan Financial Center, specifically designed to serve the unique needs of affluent clients through a highly personalized level of service, backed by the global capabilities of JPMorganChase.
JPMorganChase leaders officially opened the new centers today at New York’s Columbus Circle and San Francisco’s Financial District in simultaneous ribbon-cutting ceremonies.
“These new Financial Centers will bring together the personalized client focus that First Republic was known for, with the strength, scale and global capabilities of JPMorganChase,” said Jennifer Roberts, CEO of Chase Consumer Banking. “Through these Financial Centers, we’ll test a differentiated, personalized approach across banking, lending and wealth.”
J.P. Morgan Financial Centers are the newest branch format from the nation’s largest bank. Each location has been intentionally designed with the affluent client in mind, with private meeting spaces and distinct finishes. Qualified clients will receive concierge-level support through a Senior Private Client Banker and a newly formed dedicated concierge servicing team to deliver a full range of products and highly customized servicing across banking, lending and wealth management. The firm expects to open more than 30 Financial Centers by the end of 2026.
Chase Branches are Tailored to Meet Client Needs
Chase branches operate in several different formats, depending on the specific needs of clients and the community. For example, high-volume, full-service branches feature multiple transaction windows, while other locations include more meeting rooms and private spaces for personal conversations.
Chase also operates 19 Community Centers across the country as part of an overall effort to expand access to banking, tools and advice to people who might not otherwise have access to them. These Community Centers are part of Chase’s community-inspired branch network, which includes 300 locations in underserved areas.
“Our branch segmentation model is intentional,” Roberts said. “Just like we deliver customer-segment strategies that meet distinct needs, we think about our branch network the same way. We tailor our branches at the local level to meet distinct community needs so every customer will be able to say, ‘Chase is the bank for me’ which we know is critical in becoming the Bank for All.”
J.P. Morgan Private Client Expands Chase’s Affluent Strategy
J.P. Morgan Private Client will expand the firm’s banking and wealth management services by providing best-in-class services, products and benefits, tiered by relationship value.
- The premium level of this relationship offering is Chase Private Client, which is designed for clients with $150,000 or more in qualifying deposit and investment balances and includes a deposit product designed with these clients in mind. Chase Private Client is offered in more than 4,800 Chase branches across the country.
- The next level of this relationship offering is J.P. Morgan Private Client, which focuses on clients with more than $750,000 in qualifying deposit and investment balances, offering concierge services, preferred savings rates, and complimentary wealth planning. J.P. Morgan Private Client will be available in the new J.P. Morgan Financial Centers.
- J.P. Morgan Private Bank, designed for clients with more than $5 million in investable assets, is a holistic relationship offering across banking, lending, planning, investing, family office management and special advisory services that is delivered through the firm’s Asset & Wealth Management business.
“This strategy is built on doing what we do best – providing products and solutions that enable our team of experts to deepen client relationships through banking and wealth,” said Mark O’Donovan, Chief Executive Officer of Chase Home Lending and First Republic transition leader. “This new offering, sitting between Chase and J.P. Morgan Private Bank, means we can continue to serve clients as their needs evolve and grow.”
JPMorganChase in New York City
JPMorganChase has called New York City home for more than two centuries. The firm serves more than 4 million customers across the city, has over 400,000 small business clients, and employs more than 24,000 residents.
Across the five boroughs, JPMorganChase partners with local officials, nonprofit organizations, and community leaders to help remove barriers to opportunity and drive sustainable economic growth. Since 2019, the firm has helped address important issues like housing affordability, supporting small businesses, and job creation through more than $91 million in philanthropic capital.
Reinforcing its commitment to New York City, the firm is constructing a new global headquarters in Midtown Manhattan, triggering 8,000 construction jobs and $2.6 billion in economic activity for New York City during the construction period alone.
JPMorganChase in San Francisco
With almost 390,000 consumer customers, over 52,000 small business clients, and more than 3,000 employees, JPMorganChase has served San Francisco for over 120 years. Over the past five years alone, the firm has partnered with nearly 580 local community organizations to drive inclusive economic growth and connect people to opportunities, committing over $21 million to nonprofits.
Through deepening community partnerships with government, local businesses, educational institutions, and the Chase Center—home of the Golden State Warriors and Golden State Valkyries—JPMorganChase is driving a stronger, more inclusive economy and fostering stronger communities.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with assets of $4.2 trillion and operations worldwide. Chase serves 84 million consumers and 6.9 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,800 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
About J.P. Morgan Wealth Management
J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co., a leading global financial services firm with assets of $4.2 trillion and operations worldwide. J.P. Morgan Wealth Management has ~5,700 advisors and $1 trillion of assets under supervision. Clients can choose how and where they want to invest. They can do it digitally, remotely or in person by meeting with an advisor in one of our more than 4,800 Chase branches throughout the U.S., or in one of our offices. For more information, go to www.jpmorgan.com/wealth and follow J.P. Morgan Wealth Management on LinkedIn.
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