J.P. Morgan Securities, the advisor-based financial advisory business of JPMorgan Chase, has opened an office in Philadelphia. The new office supplements another JPMorgan Chase office downtown; altogether, JPMorgan Chase has nearly 300 employees in Philadelphia, representing Chase Card Services, Commercial Banking, Mortgage Banking, J.P. Morgan Private Bank, the Investment Bank, and now J.P. Morgan Securities.
The new J.P. Morgan Securities office in Philadelphia will be led by John Borzi, a longtime Barclays Wealth veteran. While the private banking unit provides comprehensive services to high and ultra high net worth clients, J.P. Morgan Securities intends to deliver a broad range of wealth management capabilities to clients in the Philadelphia area. In response to a query from On Wall Street, a JPMorgan spokesperson revealed the firm expects to add “around a dozen advisors” to J.P Morgan Securities there over the next two years.
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