Business Latin America

  JPMorgan to expand Private-Banking Team in Latin America by 25% The additions would add roughly 100 people to the US firm’s private-banking ranks serving the region from foreign offices in Miami, New York, Houston and Geneva, outposts where it has about 430 employees dedicated to the business. Source: American Banker JPMorgan Chase & Co. is planning to increase headcount in its Latin American private-banking unit by about 25% next year as the firm looks to attract more clients with $5 million to $25 million to invest at the bank. “We have been hiring very aggressively in this segment and will keep doing so,” Edinardo Figueiredo, chief executive officer for JPMorgan’s private-banking business in Latin America, said in an interview. “There’s still a lot to gain.” JPMorgan, already the biggest private bank serving Latin American clients, is gaining market share as political uncertainty persuades many clients to diversify abroad, according to Figueiredo. JPMorgan mana...