JP Morgan Private Bank plans to grow its business in Southeast Asia, according to a report by Reuters. An interview with the private ban...

JP Morgan Private Bank plans to grow its business in Southeast Asia, according to a report by Reuters.

An interview with the private bank’s regional head said JP Morgan has added eight investment and client relationship staff in the past year at its regional office in Singapore and will hire a similar number by end-2006.

Kam Shing Kwang told Reuters that JP Morgan plans to be among the region’s top three private banks by assets within three years.

Ms Kwang said the bank now has 25 investment and client managers in Singapore to provide investment and wealth management services to clients in the city-state, Indonesia and Malaysia. More than half the clients are from Indonesia.