The lowly bank branch is JPMorgan's key tool to reach the wealthy. Kristin Lemkau explains why.

Courtesy of JPMorgan; Rebecca Zisser/BI

• Kristin Lemkau, formerly JPMorgan's CMO, took over its US wealth management unit in late 2019.
• Client assets have doubled to $1 trillion, but the business still lags behind peers like Merrill.
• Lemkau told BI why branches aren't dead and who she wants to hire.

Bank branches have steadily declined in number since the Great Recession. But the death of the branch is greatly exaggerated...