Jpmorgan Signs Private-Banking Agreement With Bradesco

The transfer deal is the latest part of jpremorgan`s withdrawal of ambitions for a private banking business in Brazil and is expected to lead Bradesco to add about $20 billion ($3.78 billion) to its domestic AUM. The agreement only concerns JPM`s private bank in Brazil, headquartered in São Paulo. The company has a long-term impact on Latin America`s largest economy through its asset management and investment banking lines. JP Morgan`s Brazilian clients can transfer their accounts to Bradesco as part of the deal. The deal is expected to be reached this week. University Essentials | COVID-19 Economic Outlook in the Bank: Rates and Long-Term Expectations: Q&A with Experts Bradesco also said JPMorgan will continue to offer Brazilian customers products and services abroad. . . .