06:24 AM EDT, 07/03/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) is overhauling its private banking operations to better meet the growing demand from ultra-wealthy clients for global investment strategies, the Wall Street Journal reported Thursday.

Amid rising geopolitical tensions, including conflicts in the Middle East and fears of a global trade war, clients are looking to diversify their assets internationally rather than concentrating them in one region, according to the Wall Street Journal.

It added that the move also reflects rising interest, especially from non-US investors, in private markets, which are experiencing significant growth worldwide.

JPMorgan Chase ( JPM ) did not immediately respond to MT Newswires' request for comment.

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