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Behind the Money

JPMorgan’s internal feud over wealthy clients

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4350 Ratings

🗓️ 2 November 2022

⏱️ 18 minutes

🧾️ Download transcript

Summary

There’s some internal turmoil at JPMorgan Chase over who should manage the bank’s wealthiest clients. At the centre of the infighting is a top financial adviser who’s managed the accounts of some big names, including retired baseball player-turned-entrepreneur Alex Rodriguez. The FT’s US banking editor Joshua Franklin walks us through what led to this years-long legal battle at one of the world’s biggest banks.


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For further reading:

Glitz and Gladwell: the infighting over prized JPMorgan wealth clients

Baseball star Alex Rodriguez at centre of JPMorgan client poaching row

Asset Management: Growth investors adapt to new paradigm

Take our FT Podcast Listener Survey here


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On Twitter, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07


Read a transcript of this episode on FT.com




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Transcript

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0:00.0

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facts, not opinions.

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0:26.6

Visit clarity.

0:28.0

AI and take action today.

0:30.8

Hey American listeners, we at the FT want to get to know you a bit better.

0:35.0

So we're looking for some US-based listeners to join a focus group to tell us what you like about FT

0:40.8

podcasts and what you want to hear more of.

0:44.4

You can volunteer for this by filling out a quick survey

0:47.0

and you can find the link for that in this episode's show notes.

0:51.1

Thanks everybody.

0:57.0

Take a second and think about how you keep track of your money today. Maybe you have your bank's mobile app on your phone or use a stock trading app like Robin Hood or maybe once a year an accountant

1:06.4

helps you out with your taxes. But the F.T.'s US Banking editor Josh Franklin

1:11.8

says that when people are really wealthy, you know, like

...

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