Private bank team overseeing $2B jumps from Citi to JPMorgan

A private banking team overseeing more than $2 billion in client assets has made the move from Citigroup to JPMorgan.

JPMorgan announced Thursday that the three-person group has joined its private banking office in Seattle. The team consists of Olive Goh and James Harding, both executive directors and bankers, and Jorge Valcarcel, an executive director and investment specialist.

They will report to Tim Howell, a managing director and the Seattle market manager at J.P. Morgan Private Bank.

"We are eager to build on our success as we expand our reach across the Puget Sound region," Howell said. "Our focus on engaging the best of our industry's talent will only better serve our clients."

Citi did not immediately respond to a request for comment.

J.P. Morgan Private Bank is in the midst of a plan, started two years ago, to double its advisor headcount by adding 1,500 new planners by 2026. Unlike its massive retail banking network, JPMorgan's private bank works primarily with the affluent and very affluent. Similar institutions require a client to have at least $1 million in investable assets.

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Goh joined the industry in 2008 with HSBC Securities in New York before moving to Citigroup Global Markets in Seattle in 2014. JPMorgan's announcement says she specializes in working with ultrahigh net worth clients and families.

Harding also entered the industry in 2008, first working at the wealth manager Brighton Jones in Seattle before joining Goldman Sachs and Wells Fargo. He moved to Citigroup Global Markets in 2019.

Valcarcel joined the industry in 2012 with a position at Global Strategic Investments in New York. He later moved to Eaton Vance Distributors in Seattle and then Citigroup Global Markets in 2017.