JPMorgan Plans to Double Assets Under Management in Europe to $2 Trillion Over the Next Five Years

JPMorgan Asset Management plans to double its assets under management in Europe to $2 trillion over the next five years. The firm expects that the wealthy population in Europe will drive growth in its asset management division. Patrick Thomson, CEO of JPMorgan Asset Management for Europe, the Middle East, and Africa, stated that Europe is a prime market for continued business expansion. The company's three strategic focuses are actively managed exchange-traded funds, alternative assets, and building partnerships with leading wealth management firms, which will be the core drivers of growth. Over the past nine years, JPMorgan's assets under management in Europe have grown from $500 billion to $1 trillion, thanks to market gains and inflows from new and existing clients.

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