Mr. Gianini, J.P. Morgan has set ambitious targets: The firm aims to double its ultra-high-net-worth business by 2030. How far along are you?
We have already demonstrated that we can achieve ambitious goals. When we launched our previous five-year plan in 2020, we set out to double the business—and we actually reached that target ahead of schedule. That’s why we’ve once again set ourselves ambitious growth objectives for 2030.
Since relaunching the plan in 2023, we’ve been growing revenues at a compound annual growth rate (CAGR) of nearly 20 percent, while assets under management have grown at a CAGR of 23 percent. That’s a very strong trajectory.
How have you achieved this growth?
Several factors have contributed. First, Switzerland remains an exceptionally attractive wealth management market, with assets growing steadily by around 4 to 5 percent annually. Second, the country continues to attract wealthy international families.
