Larchmont’s “Mass Affluent” Bank
12 Mar, 2012
By Polly Kreisman
Just in case you missed the front page New York Times story Sunday, the Chase Private Client bank in Larchmont, which is across the street from a “regular” Chase Bank, is billed as serving not the 1%, but “the 10%.”
The real target is what bankers call the ‘mass affluent,” a much larger group that JPMorgan Chase and giant rivals like Citigroup, Bank of America and Wells Fargo all covet as they earn less from ordinary savers.