The global title adds to the US private bank leadership role that the executive already carries out. JP Morgan was at pains to stress the importance of the international expansion of this business.

Last week, JP Morgan Private Bank appointed David Frame to the newly-formed role of global CEO.

Frame’s role adds to his existing position as US private bank CEO; he will continue to report to Mary Callahan Erdoes, chief executive of JP Morgan Asset & Wealth Management.

“David’s global acumen and strategic vision will be instrumental in elevating the global private bank to new heights,” Erdoes, said in a statement.

Adam Tejpaul, CEO of JP Morgan’s International Private Bank, said: “We are marking a significant moment for our Private Bank's international expansion. Through our expansive, global platform and fortress balance sheet, we’re elevating the power of JP Morgan's capabilities to provide clients with more innovative, bespoke investment solutions and strategic opportunities in diverse markets worldwide.”

Martin Marron, the chief executive of the wealth management solutions business, and Andrew L Cohen, global private bank executive chairman and head of 23 Wall, continue to report to Erdoes.

JP Morgan’s Asset & Wealth Management business manages more than $6 trillion in assets, underscoring its leadership in the financial industry and its ability to navigate complex market landscapes.