JPMorgan Chase Plans to Double European Assets Under Management to $2 Trillion Over Next Five Years

JPMorgan Asset Management has unveiled an ambitious growth target, aiming to double its assets under management in Europe over the next five years to reach $2 trillion. The firm is betting on wealthy Europeans to drive business expansion for its Wall Street bank's asset management division. Patrick Thomson, CEO of JPMorgan Asset Management EMEA, stated in an interview: 'Europe remains a high-quality market for our continued expansion. Our three strategic priorities—active ETFs, alternative assets, and partnerships with leading wealth managers—will serve as the core drivers of growth.' Benefiting from rising markets and sustained inflows from both new and existing clients, JPMorgan Asset Management's European business has already doubled its assets under management over the past nine years, growing from $500 billion to $1 trillion. (Sina Finance)