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Case Study

J.P. Morgan Private Bank (A): From advisory to best-in-class service offering

By Benoit F. Leleux, Morris Naqib, Pierre Christian Wüst, Rain Sepp and Sylvain Gioux

13 pages

December 2023

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Reference: IMD-7-2493

SEPTEMBER 2020: Adam Tejpaul and Gabriele Zaninetti were just tasked with the most transformative project J.P. Morgan Private Bank had faced in over 15 years, i.e. the integration of advisory services as part of their offerings. Adam knew the private banking industry inside-out and had witnessed all major changes in the private banking industry. J.P. Morgan private bank was renowned for the quality of its services and an insightful advising culture, but it needed to capitalize on its strengths, namely its strong due diligence and advisory services. How could Adam convince the organization that a change in the investment service model was needed despite being profitable? What options did Adam have to change the advisory model and prepare the bank for the new market environment? How would the new model answer the needs of internal (advisors) and external (clients) customers? How could he implement such an important IT-heavy initiative to bring the most value to the client advisors and clients? What would be the key success factors in this new technology- and fee-based advisory model? What options did they have to implement Engage within J.P. Morgan’s IT infrastructure?

Learning Objective

Innovation: Entrepreneurs are innovators who constantly look for ways to disrupt existing markets and create new value for their customers.
Risk taking: A willingness to take risks is another important trait of successful entrepreneurs.
Resilience: Entrepreneurs must be resilient and persevere in the face of setbacks, failures and difficult times.
Execution: Successful entrepreneurs can turn ideas into viable businesses by building solid strategies, securing funding, hiring and retaining talented teams, establishing strong partnerships, marketing effectively, and delivering exceptional customer experiences.

Keywords

Digital, Disruption, Private Banking, Advisory, Business Model, Transformation, Digitalization, Cultural Change, Customer Centricity

Settings

World/global, Switzerland
J.P. Morgan, Finance and Insurance, Banking
2019-2023

Type

Field Research

Available Languages

English

Related material

Teaching note

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This case study is part of a series

J.P. Morgan Private Bank (A): From advisory to best-in-class service offering
J.P. Morgan Private Bank (B): Engage ... or disengage?

This case study is part of a series

J.P. Morgan Private Bank (A): From advisory to best-in-class service offering
J.P. Morgan Private Bank (B): Engage ... or disengage?

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