JPMorgan Asset Management has announced plans to double its assets under management in Europe to $2 trillion within the next five years, reflecting its confidence in the region’s growth potential driven by affluent investors. The firm currently oversees $1 trillion in European assets, having doubled that figure over the past nine years.

Patrick Thomson, CEO of JPMorgan Asset Management for Europe, the Middle East, and Africa, highlighted three strategic priorities aimed at fueling this expansion: active exchange-traded funds (ETFs), alternative investments, and partnerships with major wealth management firms. Since launching its active ETF business five years ago, JPMorgan has grown this segment to $60 billion in Europe. These funds, which combine the ETF structure with active portfolio management, have become an accessible entry point for younger and mass-affluent investors, Thomson noted.

JPMorgan expects further opportunities in European equities, fixed income securities, and infrastructure investments, particularly in sectors such as energy transition and grid modernization, where demand for capital is strong. According to Morningstar Direct, over 85% of JPMorgan’s funds have performed above the median over the decade ending July 31.

The ambition to grow in Europe aligns with broader industry trends. A PwC report projects Europe’s asset management sector will expand at an annual rate of 5.6%, reaching nearly $50 trillion by 2030. The report also predicts that alternative asset allocations—including private equity and venture capital—will more than double from $3.3 trillion in 2020 to $7.7 trillion by 2030 as regulators encourage greater retail investor participation in private markets.

Thomson emphasized a regulatory push to convert more savers into active investors as a key driver of this growth. The asset management industry in Europe has increasingly bifurcated between large-scale firms offering diverse product sets, such as JPMorgan, and more specialized operators. Many companies have pursued growth through mergers and acquisitions to achieve scale, reduce costs, and access new distribution channels.

Technology investment remains a central focus for JPMorgan. The parent bank commits $20 billion annually to technology, while its asset management division allocates $600 million each year to its global technology platform, supported by a team of 1,400 engineers. Thomson described these expenditures as essential to maintaining competitiveness in a landscape where scale supports both innovation and operational efficiency.