JP Morgan's private bank has launched a family office solutions group for the EMEA region.

JP Morgan Private Bank has launched a family office solutions group,
concentrating on single family offices that have a net worth of more than $500 million in the Europe, Middle East and Africa
region.

The move by the US banking giant is part of a trend
of large banks looking to tap into this important client segment. UBS, the
Swiss wealth management firm, has a family advisory group, for example. Another
example is Citigroup.

“Given the increasing complexities and sophistication of
single family offices, we have established a dedicated team who will focus on
offering to this segment a range of customised services including tailored
investment strategies, wealth planning, advice on family governance,
philanthropic initiatives, and succession planning throughout the family office
life cycle,” Samy Dwek, who leads the JP Morgan Family Office Solutions team,
said today in a statement.

Large banks such as JP Morgan, with their investment banking
and corporate finance arms, as well as their wealth management businesses, are
looking to offer these packages of services to single family offices that
cannot perform such functions in-house.  

JP Morgan Private Bank has $770 billion of client assets.