Forbes honors J.P. Morgan Wealth Management Advisor

BY PETER KATZ Pkatz@westfairinc.com

Agenerally underreported aspect of the Federal Deposit Insurance Corporation’s (FDIC) entering into a purchase and assumption agreement with JPMorgan Chase Bank in the rescue of First Republic Bank is that Chase also is able to absorb First Republic’s wealth advisory operations. According to the financial website AdvisorHub, First Republic’s Private Wealth business will be folded into JPMorgan’s advisory services.

The FDIC had announced that JPMorgan Chase Bank submitted a bid for all of First Republic Bank’s deposits and most of its other assets. Those deposits totaled $103.9 billion. First Republic’s total assets amounted to $229.1 billion. The FDIC announced that First Republic Bank’s 84 offices in eight states would reopen as branches of JPMorgan Chase Bank and that all depositors of First Republic Bank would become depositors of JPMorgan Chase Bank.

Forbes Honors 2

Stamford Mayor Simmons:

‘Our

city is strong and getting stronger every day’

BY JUSTIN MCGOWN jmcgown@westfairinc.com

When presenting her State of the City Address, Stamford Mayor Caroline Simmons couldn’t help but point out the dramatic difference between last year’s presentation and the 2023 speech delivered at The Village complex along the city’s waterfront.

“Last year at this time I had Covid and was delivering this address via Zoom in my pajamas,” Simmons said with a laugh, “So I’m excited to be here with you in person tonight and share with you how far our city has come.”