[JPMorgan Plans to Double European Assets Under Management to $2 Trillion in the Next Five Years] According to a report by Jinse Finance, JPMorgan Asset Management has announced an ambitious development goal to double its assets under management (AUM) in Europe to $2 trillion within the next five years. The firm is betting that Europe's wealthy population will drive growth for the asset management division of the Wall Street bank. Patrick Thomson, CEO of JPMorgan Asset Management for Europe, the Middle East, and Africa, stated in an interview: 'Europe is a high-quality market for us to continue expanding our business. Our three strategic priorities—active exchange-traded funds (active ETFs), alternative assets, and building partnerships with leading wealth management institutions—will be the core drivers of growth.' Thanks to market gains and continuous capital inflows from both new and existing clients, JPMorgan Asset Management's European business has already doubled its AUM over the past nine years, growing from $500 billion to $1 trillion.