JP Morgan Private Bank has hired Richard Madeley, the former head of UK private banking of UBS and managing director of Deutsche Bank’s priv...

JP Morgan Private Bank has hired Richard Madeley, the former head of UK private banking of UBS and managing director of Deutsche Bank’s private banking business in London.

Mr Madeley joins from Ryes Capital, a specialist hedge fund risk management group he helped to set up after leaving Deutsche Bank.

JP Morgan has also hired Matthew Haimes, who joins from Deutsche Bank, where he was head of business development in the private wealth management group of Deutsche Bank in New York.

“We are delighted to welcome Richard and Matthew to our team. Their knowledge and experience will help us realise our commitment to being the private bank of choice for ultra high net worth individuals and their families in the UK,” said Olivier de Givenchy, head of JPMorgan Private Bank in the UK in a statement.

He added: “Many of our clients are entrepreneurs, family business owners and multijurisdictional families who require the most sophisticated financial advice and services available. With Richard and Matthew’s help, we will grow our franchise among individuals and families with specific, complex needs that arise from business ownership, transitions in families, and international citizenship.”

In his new role, Mr Madeley will focus on extending JPMorgan’s coverage of the UK domestic private client market. Mr Haimes will also work with the existing team, specifically focusing on expanding the bank’s relationships with hedge fund and private equity principals. Both will report to Mr de Givenchy.