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Report: JPMorgan cuts about 30 jobs at Asia-Pacific wealth management unit

About 30jobs were cut at JPMorgan Chase& Co.'s Asia-Pacific wealth management unit in the week ofApril 11, Bloomberg News reported, citing "a person with knowledge of thematter."

The source saidthe job cuts involved mostly Hong Kong- and Singapore-based relationshipmanagers.

The persontold the news outlet that later in 2016, JPMorgan intends to increase thethreshold of investment from clients to $10 million from $5 million.

Meanwhile,Bloomberg also noted JPMorgan's confirmation of the departure of Edwin Lim,market manager of the company's North Asia high-net-worth business, fromJPMorgan.