JPMorgan Chase & Co. is expanding its push into the ultra-wealthy segment by allowing European clients to secure loans using luxury and classic car collections as collateral, according to Bloomberg.
The Wall Street bank’s private banking division enables clients to borrow against rare, classic or custom-built vehicles stored in European jurisdictions such as the UK, Italy and Germany. The service, already available in the US, will also roll out in France, Switzerland and Spain, the bank announced.
Read full article here: turnovernews.com
Photo: Haute Today
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