San Diego Business Journal

JPMorgan Chase announced it has signed a 10-year lease at One Paseo on May 8. The company, slated to open the first J.P. Morgan Private Bank branch in San Diego in Q3 2020, said it expects to hire up to 40 employees at the new location in the next four years.

Bambos Charalambous, executive director at JPMorgan’s office in London, was appointed by the investment bank to lead the new San Diego office.

JPMorgan said the opening of the private bank office in San Diego is part of a national campaign to expand its private bank services. The bank recently opened private bank offices in Charlotte, N.C., Baltimore, Md. and Sal Lake City, Utah.

“San Diego is actively becoming one of the best places for new business and wealth growth in the country,” J.P. Morgan Private Bank Market Manager Ethan Morgan said in a statement. “The city’s business community is already a big part of our work at JPMorgan Chase, and we’re partnering with our team on the ground to make a strong entry and strengthen the relationships we already have.”