J.P. Morgan will open a private banking office in Orange County as part of a national expansion of its private banking division.
“We’re expanding our private banking division in several areas. It’s no surprise we are in Orange County,” a spokesman for J.P. Morgan said.
The New York-based financial services company also will be opening offices in New York, Boca Raton, Fla. and Washington, D.C. this quarter and will continue later this year into Atlanta, Detroit, Los Angeles, San Francisco, Boston, Cleveland, Denver, Houston, Minneapolis, Palo Alto, Seattle, Chicago, Dallas and Philadelphia.
The firm also is expanding its operations onto the Internet, with its launch of LabMorgan, which aims to be a destination for entrepreneurs with innovative ideas and a hub for technological innovation for the company. JP Morgan also launched Arcordia, an Internet-based derivative management and settlement company.
