J.P. Morgan Private Bank is underscoring its commitment to the New Jersey market by announcing a significant expansion plan and the appointment of two key senior executives: Kevin Morrison as New Jersey market manager and Pete Donchez as New Jersey head of investments & advice.
The moves follow substantial growth in the region, with the Private Bank’s New Jersey team doubling in size over the past seven years. To support future expansion, the firm plans to add 150 new employees in New Jersey over the next five years. This growth is centered around the Summit office, which recently expanded its space and will celebrate its 10-year anniversary in 2026.
Kevin Morrison takes on the role of New Jersey Market Manager, leading a team of more than 90 bankers, wealth strategists, and financial specialists. Morrison is based in Summit and brings deep regional expertise, having co-led the New Jersey market for the past nine years as the Head of Investments and Advice. His team provides comprehensive guidance across crucial areas, including:
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Investing and credit
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Philanthropy and advisory services
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Family office management
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Fiduciary services
Pete Donchez succeeds Morrison as the New Jersey Head of Investments & Advice. Donchez has been integral to the team’s growth since joining as an associate in 2012. He will now lead a team of 20 investment specialists collectively responsible for managing $40 billion of client assets. Donchez’s promotion is a key component of the firm’s regional growth initiative, and he will advise on business and advisor trends as well as opportunities across the business.
Morrison emphasized the firm’s client-centric philosophy driving the expansion. “Our commitment is to deliver an elevated private banking experience shaped entirely around our clients’ ambitions,” he said. “With our growth in the market, we’re raising the standard in private banking, offering comprehensive guidance and opening doors to new opportunities for clients across New Jersey.”
He added that the team is dedicated to helping clients “build, preserve, and transfer their wealth,” leveraging J.P. Morgan’s global resources for local families and businesses.
JPMorgan Chase’s connection to New Jersey spans over 185 years. The firm currently serves more than 3 million consumer and business customers across the region and employs over 12,000 people across its community, private, commercial, and investment banking sectors in the state.
