Best for family office services in Hong Kong 2023
JPMorgan Private Bank
JPMorgan, the 152-year-old institution founded by the man who bailed out the US government in the early 1900s, needs little introduction. Yet bankers at the firm make a deliberate attempt not to rest on their laurels.
That’s clear in the exemplary work being done by the JPMorgan private banking team in Asia in attracting the business of wealthy Asian families and family offices, and explains the 16% jump in revenues last year to a record $8.9 billion.
The private bank’s strategy to is to leverage its global footprint, yet stay closely attuned to Asia’s nuanced diversity and the challenges posed by multi-generational wealth and accelerated new wealth creation.
In Hong Kong, JPMorgan takes the Asiamoney award for best for family offices in 2023.
Last year was one of challenges and recalibration. As markets gyrated, JPMorgan’s private bankers and research staff focused on key market drivers: the impact of China’s zero-Covid policies on global growth; Beijing’s structural growth outlook; fallout from the war in Ukraine on capital flows and commodities; and how shifting supply chain patterns might affect Asian economies.
The bank made several calls that helped family office clients avoid steep losses by holding a cautious view on China, the strong dollar, and copious hedging of downside risks.