JPMorgan Builds Unit for World’s Richest Families in Wealth Bet

JPMorgan Chase & Co. has quietly built a global unit focused on catering to the ultra-wealthy and their investment firms as it looks to expand services to the world’s super-rich.

Created just before the pandemic and led by JPMorgan veteran Andy Cohen, the business now includes about three dozen people in the US, Asia and Europe and works closely with the New York-based firm’s investment and private banks.

Andy Cohen

Source: JP Morgan

The unit is called 23 Wall, a nod to the location of the bank’s former Manhattan headquarters opposite the New York Stock Exchange. It focuses on about 700 families worth ...