JPMorgan's private banking assets, revenue rise

NEW YORK (Reuters) - JPMorgan Chase & Co's private banking and wealth management businesses boosted assets and revenue in the fourth quarter, contributing to record income in the banking giant's asset management division.

Private banking revenue rose by 18 percent to $1.38 billion as assets under management rose 5 percent to $284 billion. Results include JPMorgan's Private Bank, its private wealth management unit and JPMorgan Securities, a brokerage business formerly known as Bear Stearns Private Client Services.

JPMorgan does not break down the performance of the three wealth management businesses and offers little other detail in its financial results or quarterly investor presentation.

The number of client advisers in the bank's broader asset management division rose 16 percent to 2,245 from last year. The ranks of JPMorgan Securities brokers rose 10 percent to 415 in the same period.

Including deposits and assets in custody, brokerage and under administration, private banking assets under supervision rose 15 percent to $731 billion.

Overall asset management division results, including the bank's mutual fund, hedge fund and institutional money management activities, generated a record $2.61 billion in revenue. Assets under management rose 4 percent to $1.30 trillion.

(Reporting by Joseph A. Giannone, editing by Dave Zimmerman)