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- today, 5:44 AM
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The lowly bank branch is JPMorgan's key tool to reach the wealthy. Kristin Lemkau explains why.
- 07/05/2024, 5:49 AM
- businessinsider.com
Courtesy of JPMorgan; Rebecca Zisser/BI
Bank branches have steadily declined in number since the Great Recession. But the death of the branch is greatly exaggerated, JPMorgan's Kristin Lemkau told Business Insider. The personal touch is good for customers and the bottom line, with branch advisors averaging 30 new clients a year, according to Lemkau, CEO of JPMorgan Wealth Management. That's why the bank plans to open 500 new branches by 2027.
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