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JPMorgan to double European private banking corporate finance group
JPMorgan is doubling the size of its joint venture between its investment banking group and its private banking group in Europe.
The joint venture, which specializes in helping private, often family-owned companies raise capital or sell themselves, plans to hire about 11 more bankers by the end of next year, said Emilio Saracho, head of private banking for Europe, Middle East, and Africa, at the Reuters Private Wealth Management Summit.
The group can help JPMorgan win new private banking business by providing advice to families that may be looking to sell companies.