The U.S. bank's asset management arm is dwarfed by its far weightier consumer bank as well as capital markets activities, but enjoys top-level management attention for a growth bid, Claude Kurzo, according to country chief for the business in Switzerland.

«We're considered a growth business and therefore receive a lot of investment, which helps to grow the business,» Kurzo told finews.tv. The wider asset management unit contributed $1.24 billion of JP. Morgan’s overall $14.3 billion net profit in the first quarter.

Top-ten players can stomach price pressure, coupled with the ability to massively invest –  and have seen market share gains as a result, Kurzo said. Asset managers with a focus on one channel, geography, or investment capability have also won share, he noted.

«The challenge is more in the middle: broad in capability set but not top-ten,» Kurzo said. J.P. Morgan is the world's fourth-largest asset manager by funds, and ranks third in Switzerland. 

The bank is seeking to bulk up through cooperations such as with a major Turkish asset manager, which will take J.P. Morgan's products in a «white label» agreement. Despite a flurry of asset management deals, Kurzo indicated that the U.S. bank would focus on such cooperations, including in Switzerland where he sees considerable potential to tie up.

«There's a lot going on with acquisitions in the market and industry. Obviously we're monitoring that very carefully and are part of that industry,» Kurzo said.