JPMorgan Chase has appointed David Frame as the global head of its private bank, a newly created position aimed at enhancing services for ultra-wealthy clients investing internationally. This move is part of JPMorgan's broader strategy to revamp its private banking division to better cater to a global clientele. Meanwhile, Citigroup is expanding its private banking operations in the Middle East by increasing recruitment of private bankers focused on Saudi Arabia and the UAE, reflecting a competitive push to serve affluent clients in that region. Industry observers note JPMorgan's dominant position under CEO Jamie Dimon, who emphasizes risk management as a core investment principle. Other wealth management firms, including Kotak Bank and Apollo, are also intensifying efforts to attract wealthy customers, with Apollo planning to establish a sizeable team in Zurich. These developments illustrate growing competition among major financial institutions to capture the expanding market of high-net-worth individuals worldwide.