JPMorgan Doubles Private Bankers in Singapore Team to Over 50

JPMorgan Chase & Co.has doubled the number of Singapore-based bankers who serve wealthy clients in the region, signaling its ambition to capture more business from the Asian financial hub.

The Wall Street bank’s relationship manager headcount for Southeast Asia and Australia has risen to more than 50, roughly twice the number from the start of last year, according to people familiar with the matter. Most hires were for the Indonesian market, with about 20 staff from fewer than 10 last year, said the people, who asked not to be identified as the recruitment isn’t public.

The New York-based firm ...