The new unit, to be headed by marketing chief Kristin Lemkau, will position the bank to have one set of operations for clients with up to $25 million in assets, while JPMorgan's private bank for ultra wealthy clients will remain separate, the report said https://www.wsj.com/articles/jpmorgan-takes-aim-at-rivals-in-wealth-business-revamp-11576095896?mod=searchresults&page=1&pos=1.

JPMorgan did not immediately respond to Reuters request for comment.

(Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber)