JP Morgan Private Bank has hired Regis Molowny to work with its UHNW clients in Spain.

JP Morgan Private Bank has named Regis Molowny as head of its wealth advisory unit in Spain, to work with ultra high net worth families in that country. 

Based in Madrid, he will report to Juan Manuel Soto, head of JP Morgan Private Bank in Spain.

The appointment of Molowny underscores JP Morgan Private Bank’s commitment to further expanding in Spain, Soto said in a statement.

Molowny was formerly branch manager of Merrill Lynch in Spain and Portugal. Before that, he was senior associate of the financial and tax law department in law firm Cuatrecasas and senior associate in the international tax planning department in law firm Baker & McKenzie.

JP Morgan Private Bank has $830 billion in assets under management.

In other news, earlier this week JP Morgan Private Bank announced that it is to be the principal sponsor of the eighth Beacon Awards for Philanthropy -  a biennial event which honours philanthropists who have focused their efforts specifically on UK causes.