In May 2023, JPMorgan Chase acquired a “substantial majority of assets and assumed the deposits and certain other liabilities” of First Republic Bank after it collapsed and was seized by regulators. The deal also included First Republic’s brick-and-mortar locations.
Two years later, JPMorgan is announcing what it’s doing with the real estate: opening 14 new “J.P. Morgan Financial Centers” in four states that are “thoughtfully designed to cater to the needs of affluent clients,” according to a company statement.
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“Through these Financial Centers, we are redefining how affluent clients are served, offering a highly