JPMorgan Chase & Co. has established a discreet global unit called 23 Wall to serve the ultra-wealthy and their investment firms. JPMorgan veteran Andy Cohen's unit caters to around 700 families with a net worth exceeding $4.5 trillion. The establishment of 23 Wall demonstrates how banks adapt to the evolving wealth management practices of affluent individuals and families increasingly utilizing family offices. Despite inflation and rising interest rates causing financial strain globally, many ultra-wealthy individuals continue to see their fortunes grow, driven by surging technology valuations. While there is no minimum wealth threshold, the unit primarily focuses on the richest 0.01% of individuals.