JPMorgan (JPM) Chase is reorganizing its private bank in order to better serve the world’s richest people, who intend to safeguard their wealthy by spreading it around the world, Alexander Saeedy of The Wall Street Journal reports. With a minimum required balance of $10M, JPMorgan’s white-glove bank for the superrich is one of the preferred places for the world’s elite to store their money and these customers are now demanding the bank to invest more of their money abroad.
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