JPMorgan to create wealth management unit in Luxembourg

(Reuters) – JPMorgan Chase & Co (JPM.N) said on Tuesday it will establish a wealth management business in Luxembourg and boost offerings at its investment banking and custody and fund businesses.

FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo

As part of the restructuring, the bank will also merge its Luxembourg unit with its London-based international bank unit.

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