September 11, 2018 / 12:14 PM / 2 months ago

JPMorgan to create wealth management unit in Luxembourg

FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo

(Reuters) - JPMorgan Chase & Co (JPM.N) said on Tuesday it will establish a wealth management business in Luxembourg and boost offerings at its investment banking and custody and fund businesses.

As part of the restructuring, the bank will also merge its Luxembourg unit with its London-based international bank unit.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Shounak Dasgupta

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