JP Morgan Managing Director Pablo Garnica says the bank is on the look out for acquisition opportunities among wealth fund managers, and says he is confident in the euro zone recovery.
JPMorgan's private bank kicked off 2010 looking to expand its international business. And -- the ultra wealthy in emerging markets will Padraig Danica is the group's private banking chief in many joins me now to discuss how the strategy. to reduce your depends on the Americas and also look for it ultra wealthy individuals. Of dishonest and is not what everyone's doing there's a very difficult strategy to pursue business. and sickened and an -- expression I think he's not from. Third Forex . clients in city in they're waiting to try it. More risk -- complex assets it knew it off the last couple of years let. These indeed how -- somewhat -- do they won't won't plain Vanilla JPMorgan's private bank kicked off 2010 looking to expand its international business. And -- the ultra wealthy in emerging markets will Padraig Danica is the group's private banking chief in many joins me now to discuss how the strategy. Is evolving and its docket is coming along today. And you wanna get acquisitions will respect you and it not evidently you've done very much in that -- has it been hard to you. Find the right thing to -- No thank you very much for Clinton. First let me let me tell you I mean we always and -- look hopeful world non organic growth opportunities. Under to be on and we knew we have not find them right feet yet we go forward and our efforts on aggressive organic growth. But we are always in the Google for opportunities. You've got to be the right opportunity. -- we have not been able to me to find it yet can we always and they look carriers have -- and won't would define the right opportunity what sort of thing feels right you right now. I think and opportunities. A business that. Press. Full truckload business and build a high that -- we -- meaningful quote. Under I -- from -- personable to begin a market leader we can develop a non literate to wear a little resources and opportunities there. can't pay you focus I think very much. As a business. Who wanted to reduce your depends on the Americas and also look for it ultra wealthy individuals. Of dishonest and is not what everyone's doing there's a very difficult strategy to pursue business. That is what everybody is doing now I think we've always troubled the world affords in their old high net -- studies. How we have resource on all day. A bit more than east geared toward certain that complex. -- funny is that outside of -- greets. In terms of international expansion. Obviously I think. Regions that growing fast these days like Asia Latin America. And we want to be able to complement we're very strong US vision as -- international news this function. So first from there with the heightened level of household would be in our core and sickened and an -- expression I think he's not from. Third Forex . Did you -- Asia Pacific region let let's face it -- the world's -- in -- being made right now. Is that gonna be a natural -- full wealth management in the future oppressive in the very near future. Not I'm more focused on emea leg and then use that do we have -- fourteen nation. I'm. We want to expand it with a deadly become dead how for the international provisions like gotten out pay you. But -- I gotta say that these are grateful if a very big full go for us on we are very optimistic that the growth in the region. But the results are about many say are optimistic they're great in and they had yet a lot of people would say in many ways Europe itself is looking. Some of the com to a great terms of the -- reception Germany how do you see that picture. I think for let for the -- but I hi Ned Lawrence inside a previous stable segment. And I think this is -- growth opportunity there are people. Looking for opportunities -- of markets. I'm I'm I'm trust us always -- and -- and are helpful was fun we like it I mean we are doing was in that respect. Shall we continue to be optimistic outlook and growth of the region. What sort of assets do you find EU clients in city in they're waiting to try it. More risk -- complex assets it knew it off the last couple of years let. These indeed how -- somewhat -- do they won't won't plain Vanilla products right now. I think people are looking for more. -- finally -- assets. That doesn't prevent that fight for the old behind it looks to identify opportunities. That because of market conditions. Present I blew the opportunity these days so I think I well balanced or Florida where do half core assets on social. Opportunistic investments makes sense forward forward forward clients on that is where we -- forward with the Indians. A team working on what Bob -- put dignity because of market conditions read percent. An attractive. Opportunities. And just finally -- and a year ago clients worried about I -- it in Europe is that something that concerned about. We don't think there's going to be other -- the I think we. That did the vehicle is going to be is no but. Award team offers stud they used them on economies. The -- he. Thing we are facing now that is the situation. The candidate that I have a got a card from JPMorgan thank you very much up for joining us today from Geneva.