JPMorgan Signs Private-Banking Agreement With Bradesco (3)

JPMorgan Chase & Co. signed a referral agreement with Banco Bradesco SA for its local private-banking business in Brazil, said Marcelo Noronha, a vice president for the Osasco-based company.

Under the deal, the U.S. bank will refer its wealth clients in Brazil to Bradesco, which will be able to distribute JPMorgan’s global products to its local clients, according to Noronha.

JPMorgan’s brand “is very well respected among Brazilian wealthy clients, and we are honored they have chosen us for this deal,” he said in a phone interview.

JPMorgan has more than 60 bankers and about 20 billion reais ($3.7 ...