J.P. Morgan Private Bank announces new U.S. Family Office Practice

NEW YORKJuly 26, 2023 /PRNewswire/ — J.P. Morgan Private Bank today announced the launch of its U.S. Family Office Practice, a new effort that will support the Private Bank’s largest clients and their family enterprises, and expand its suite of family office services. The practice will bring together the experience of more than 150 professionals, including 40 formerly practicing partner level estate and tax attorneys, offering guidance on estate planning, life insurance and strategic wealth transfer techniques, along with the Private Bank’s Advice Lab, Global Investment Opportunities (GIO) and Outsourced Chief Investment Officer (OCIO) teams.

The U.S. Family Office Practice will be led by William Sinclair, a 17-year veteran of J.P. Morgan and a member of the U.S. Private Bank Operating Committee. As head of the practice, he is responsible for the strategic growth of the Private Bank’s family office platform to meet the complex needs of this sophisticated client base. Sinclair is also Head of the Private Bank’s Financial Institutions Group, a division of over 180 professionals that focuses on delivering the firm’s robust wealth management services to financial sector executives and their families.

“The launch of this new effort under William’s leadership underscores our commitment to continually invest in the Private Bank’s platform and ensure that we remain the bank of choice for the world’s wealthiest families,” said David Frame, Chief Executive Officer, J.P. Morgan U.S. Private Bank.

The practice will partner with 23 Wall, a global team providing strategic advice to the world’s largest families in regard to their privately owned assets, including operating companies, direct investments, sports teams and real estate. Integrated into the Private Bank and the Investment Bank, 23 Wall expands the Private Bank’s coverage model to 700 families with $4.5 trillion of assets providing institutional access to the firm’s deal flow, balance sheet and intellectual capital, along with the ability to co-invest with the world’s largest families.

“Our clients are looking for highly customized solutions, innovative digital services, and resources to address the growing complexities of multi-generational wealth,” said Andrew L. Cohen, Executive Chairman of J.P. Morgan Global Private Bank. “The launch of this practice will provide a robust solution set for family offices across the wealth spectrum. We are constantly innovating and identifying solutions, as well as leveraging intellectual capital across the firm that are valuable to families.”

Leveraging J.P. Morgan’s extensive platform and leading financial professionals, the Family Office Practice will offer strategic advice and strategies to ultra-high-net-worth families seeking to enhance an already established family office, to establish a new one, or to benefit from outsourced family office services without an independent office structure. The firm already works with over 40 percent of U.S. families with a net worth in excess of $100 million and more than half of America’s billionaires.

“The Private Bank has a long history of advising successful families on how to manage their wealth, considering the unique source and composition of their assets, the dynamics and size of a family, and the infrastructure they choose to put around it,” said Sinclair. “Tremendous wealth creation over the last two decades has created significant growth of family offices, as well as those looking for outsourced family office services. The launch of this dedicated practice is an intentional effort to meet this growing demand.”

The U.S. Family Office Practice will be bolstered by a strong leadership and advisory team from across the Private Bank.

Jamie Lavin Buzzard has been named the Head of Investments and Advice of the U.S. Family Office Practice. Drawing on more than 17 years in wealth management and various leadership roles at J.P. Morgan, she oversees the Private Bank’s advice-driven organizations and client engagement, including its Advice Lab, Wealth Strategy and Wealth Advisory groups, and its suite of cross-asset investment opportunities across the OCIO and GIO groups. She is also a member of the U.S. Private Bank Operating Committee.

Elisa Shevlin Rizzo has joined the firm as the Head of Family Office Advisory for J.P. Morgan Private Bank and the new practice. In this role, she works with complex, multi-generational families and their advisors to provide guidance around navigating the challenges of institutional-scaled wealth through trust and estate structuring, family governance and next-gen engagement. As a former trust and estates attorney with twenty-five years of experience, Shevlin Rizzo joins the firm from Northern Trust Company where she was Chief Fiduciary Officer for the East Region.

Christopher McCree joins the practice as a Vice President to oversee its day-to-day operations, including advising both bankers and clients on the family office landscape and supporting the expansion of the Private Bank’s suite of family office services. McCree’s decade of experience at J.P. Morgan will serve the new practice as he works to uncover opportunities to grow the ultra-high-net-worth Private Bank business across the U.S.

To learn more about J.P. Morgan Private Bank’s new U.S. Family Office Practice, visit here.

About J.P. Morgan Private Bank

J.P. Morgan Private Bank provides customized financial advice to help wealthy clients and their families achieve their goals through an elevated experience. Clients of the Private Bank work with dedicated teams of specialists that bring their investments and financial assets together into one comprehensive strategy, leveraging the global resources of J.P. Morgan across planning, investing, lending, banking, philanthropy, family office management, fiduciary services, special advisory services and more. The Private Bank oversees more than $2.1 trillion in client assets globally. More information about J.P. Morgan Private Bank is available at privatebank.jpmorgan.com/.

 

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