JPMorgan appoints Edwin Lim to private wealth team

The ex-DBS Private Bank's North Asia head will help the lender in fortifying its Greater China business.

JPMorgan Chase 's Asian private wealth unit, which caters to individuals with $10-30 million to invest, has hired DBS Private Bank's North Asia chief Edwin Lim to strengthen its Greater China business, two sources said on Tuesday.

Lim will report to Peter Flavel, who joined JPMorgan from Standard Chartered last year to help build the U.S. bank's regional wealth management business.

Flavel had been credited with the re-launch of Stanchart's global private bank about four years ago and turning it into a top 10 Asian private bank.

"Edwin Lim, who currently serves as DBS's head of private banking for North Asia will leave the bank in June 2011. DBS Private Bank is expected to appoint a successor shortly," a spokeswoman for Singapore's largest lender said.

JPMorgan declined comment.

JPMorgan's wealth management business in Asia comprises two arms -- JPMorgan Private Bank, which caters to people with more than $30 million in investible assets, and JPMorgan Private Wealth, which focuses on those with $10-30 million.

View the full story in Reuters.