Paul Scibetta, Asia chief executive at JP Morgan Private Bank since 2007, is to relinquish his post to Andrew Cohen who is currently head of the Southern California business.
As CEO of the firm's Asia-Pacific ultra-high-net-worth business, Cohen will report to Douglas Wurth, Hong Kong-based CEO of JP Morgan International Private Bank. Wurth runs the global ex-US private-banking business, having relocated from New York late last year.
Cohen will transfer from Los Angeles around September, when Scibetta will take up another senior post within the firm, says a source familiar with the situation.
The second member of top management to be brought into the region from the US in...