Banking & Finance

J.P. Morgan taps Reuben Rashty to lead private banking operations in Michigan

January 24, 2013
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J.P. Morgan has named a new manager for its statewide private banking operation, which has four offices in Michigan, including one in Grand Rapids.

Reuben Rashty was selected by J.P. Morgan this month to lead its division in the state. He will direct the team that offers deposit, credit, fiduciary and philanthropic services, along with advice on investments, to high-net-worth clients.

“We are pleased that Reuben will lead our efforts in Michigan,” said Doug Regan, Midwest regional head for J.P. Morgan.

“With the rebounding of the Michigan economy and growth in high-net-worth individuals and families, we see good growth potential in the state. Reuben’s extensive banking experience and solid leadership skills will benefit our business, as well as our clients in Michigan,” added Regan.

Before being named to his new market manager post, Rashty served as a senior banker in Chase’s Private Bank and earned the distinction of being named a “Five Star Wealth Manager” in both 2011 and 2012. Prior to joining Chase, Rashty headed the private banking operation for Israel Discount Bank in New York City.

Rashty lives in West Bloomfield. He is a member of the Jewish Federation Finance Committee and is a board member of the American Technion Society. Rashty earned his business administration degree, with an emphasis on accounting, from Wayne State University.

The J.P. Morgan Private Bank has operated for more than 150 years. In addition to Grand Rapids, the bank has offices in Bloomfield Hills, Ann Arbor and Grosse Pointe.

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