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In JPMorgan's 'war room', private banking meets cross-selling

Private bankers working with elite customers are encouraged to steer client assets into products that generate rich fees for the bank

JPMorgan says it offers wealthy clients a wide range of investment options and it favours its own products. It also says it doesn't pay its bankers commissions and the system benefits bank and client alike.


SALESPEOPLE of all stripes know the drill. Go to the morning pump-up sessions. Hit the revenue targets. Move product or move along.

The playbook for selling every-thing from phones to time shares also crops up in a rarefied environment - the Manhattan offices of JPMorgan...

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