Reed will lead a team offering investing, wealth transfer, credit and philanthropic services to the area’s high net worth clients. He reports to Alvaro Martinez-Fonts, chief executive of JP Morgan Private Bank in Florida.

Reed is relocating from JP Morgan’s Oklahoma office, where he spent five years as a market manager.

Also joining the Tampa-based team as bankers are Samuel Linsky, Christine Phillips and Kenneth Roberts.

Linsky joins the firm from Neuberger Berman, where he served as a wealth advisor working with private clients and family foundations and endowments.

Phillips was most recently a wealth management director at Lydian Bank and Trust, working on client investment portfolios, alternative investments, and strategic allocation across asset classes.

Roberts, meanwhile, joins the firm from SunTrust Bank, where he served as regional wealth strategist. In this role he specialized in helping affluent families in the areas of complex estate planning and wealth preservation.

“We are investing heavily in Florida, and Tampa represents a tremendous growth opportunity for the firm. Having a physical presence in Tampa will enable us to work more closely with Tampa’s high net worth individuals on their overall wealth management needs,” said Reed.

Many of the large wealth management players have expanded with new offices and staff lately. This month alone First Republic Bank and Baird Private Wealth Management have announced they are adding to their branch networks.

First Republic is opening a second Menlo Park, California office to cater for venture capital and private equity clients in Silicon Valley, while Baird is due to launch a Salt Lake City operation. The latter firm also plans to add 150 advisors.

Meanwhile, as emerged last week, Barclays Wealth has made a raft of hires from rival firms to strengthen its US presence.

With this new launch, JP Morgan Private Wealth Management adds to an operation which has around $150 billion in total client assets, and 900 advisors working across 86 offices in the US.