J.P. Morgan Loses $1B Advisor to Cresset as Denver Team Grows
JPM•Ali Bathgate Hild, a top 52 advisor and 14-year executive director at J.P. Morgan Private Bank, transfers her $1 billion assets under advisement to Cresset’s Denver office. Cresset, overseeing over $250 billion AUM, bolsters its six-advisor team as it targets ultra-high-net-worth clients.
1. Advisor Departure and Impact
Ali Bathgate Hild spent 14 years at J.P. Morgan Private Bank as an executive director and was ranked among its top 52 advisors. She built a $1 billion assets under advisement portfolio across New York, Greenwich and Denver before exiting to join Cresset. Her departure transfers significant fee-generating assets away from J.P. Morgan’s wealth-management segment.
2. Cresset’s Strategic Expansion in Denver
Cresset, a Chicago-based registered investment advisor overseeing more than $250 billion AUM, is bolstering its Denver office to serve high-net-worth families. Hild joins five other advisors in the region, many sourced from J.P. Morgan, as part of Cresset’s push into ultra-high-net-worth services and multi-family office offerings. Recent hires include teams managing $2 billion and $5 billion books of business in San Francisco.
3. Competitive Implications for JPMorgan
The move underscores intensifying competition for top advisor talent between large banks and RIAs. J.P. Morgan may face margin pressure as fee-based assets shift to flexible RIA models offering holistic services like tax planning and family governance. The trend could drive further advisor attrition and reshape wealth-management market dynamics.
