JP Morgan is launching an “aggressive plan” to recruit talent to cover Israel and Russia – as it identifies the two nations as key growth markets for its wealth management business.

Karim Rekik, a Geneva-based MD who has worked for the firm for nearly 10 years, has been promoted to market manager overseeing Russia and Israel, according to a memo seen by thewealthnet.

The memo described “robust” opportunities for growth in wealth management “with the industry growing more than 5 percent in developed markets and nearly 10 percent in emerging economies”.

“Russia and Israel, in particular,...