Gillian Murray told The Herald that the launch of a dedicated wealth management operation in Edinburgh has been well received since she moved from RBC Brewin Dolphin to lead the bank’s Scottish division in 2024.

The US lending giant already employs 1,800 people in Edinburgh, with 3,000 more based in the firm’s global technology hub in Glasgow.

Gillian Murray said: “We’ve had Scottish clients of JP Morgan for years and years, but they had to be managed out of London [before the Edinburgh-based division opened]. And actually having them back in the local market has been really positive in terms of us establishing our presence because they have been great whisperers for us. They have been really good advocates in terms of recommending business to us. So that’s been a really good source of referral from the existing client base.

“Similarly, we have basically used our networks of intermediaries, our intelligence on the market to really just get closer to the four areas that we are focusing on. Financial executives with a strong business background in Edinburgh, that’s been a strong area of growth for us, family businesses, entrepreneurs, and tech founders. 

“So that’s really been our main focus and it’s certainly been well received, the fact that we are bringing the global proposition of the business to the local market and that we can also open up that international scope of the firm.”

She stressed the high quality of businesses in Scotland, pointing to further opportunities for growth, concluding: “There are so many good quality businesses here in Scotland, particularly across the central belt. But we are also expanding our focus outwith Glasgow and Edinburgh to Aberdeen, to Dundee. There are good quality businesses that are really high growth and really it is that managerial, entrepreneurial spirit that we see in Scotland. 

“There is real strength in particular sectors as well, in technology, food and drinks industries, [and] professional services as well – we have seen consolidation there. There is just a lot of opportunity and activity going on.”