JP Morgan Chase & Co. announced that it has retained 90% of First Republic’s clients following its acquisition of the bank earlier this year.
Marianne Lake, the co-head of consumer and community banking at JP Morgan, discussed this during the Goldman Sachs US Financial Services Conference. Photo: Getty Images
She highlighted that even though there had been some reduction in deposits, the relationships with clients remain intact, presenting an opportunity to engage in further discussions and potentially increase business with them.
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