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Financial Times

Business

Joshua Franklin in New York

Glitz and Gladwell: the infighting over prized JPMorgan wealth clients

JPMorgan Alex Rodriguez Jamie Dimon Malcolm Gladwell Jennifer Lopez FT

© FT montage/Reuters/NurPhoto/AFP/ Getty Images

Infighting at JPMorgan Chase over how to manage the fortune of retired baseball star Alex Rodriguez has escalated into a two-year battle within the bank, involving prominent personalities such as pop sensation Jennifer Lopez and author Malcolm Gladwell, as well as chief executive Jamie Dimon.

The tug of war has laid bare tensions inside JPMorgan, pitting the lender’s storied private bank against a wealth advisory business that was acquired as part of the 2008 purchase of Bear Stearns during the financial crisis.

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