- JPMorgan has hired Robinhood’s former head of content as it expands its wealth business.
- Banks have gone all-in on “content” — newsletters, blogs, and podcasts — as marketing.
- David Moss will help the firm’s US wealth business attract new investors, per a company memo.
JPMorgan is ramping up its marketing efforts with a hire from Robinhood in its quest to attract more investing clients.
The bank has been expanding its wealth management operations in an attempt to catch up to the industry’s biggest players. In the last two years it has reorganized its US business, outlined plans to hire thousands of financial advisors, and has made fintech acquisitions in the hopes it will gain an edge against rivals.
It is also making new hires to push those plans along and reach new customers who often flock to startups.
The bank has hired David Moss as head of content for US wealth management as part of an effort to attract new clients who are “curious about investing,” JPMorgan Wealth Management head of content and communications Jennifer Zuccarelli told employees on Tuesday in a memo that was viewed by Insider.
Moss, who will be based in New York, was previously head of content for Robinhood. Moss will report to Zuccarelli in this newly created position, a spokesperson said. He started last month.
He will lead the unit’s strategy for content. An area that banks and money managers have gone all-in on in recent years as a way to market products and services: blogs about investing and other financial matters, social media, advisor-distributed posts, newsletters blasted out to clients, and events held virtually and in-person.
While he was with Robinhood, Moss oversaw content for its products, customer experiences, social media, marketing, and educational materials, a JPMorgan spokesperson said.
Robinhood, which is gearing up to go public, has a content-marketing machine that includes a financial newsletter called “Robinhood Snacks.” Its newsletter and podcast had nearly 32 million subscribers as of March, the company said in an SEC filing last week. Its daily podcast was downloaded nearly 40 million times last year.
In hiring Moss, JPMorgan is pushing further into a space dotted with “thought leadership” and other buzzwords meant to cast financial firms as approachable and relatable for new generations of investors who lost trust in the industry following the financial crisis.
A wave of firms creating effective in-house media units has led to banks launching highly produced podcasts and video series, friendly interviews between executives, and creating roles with unlikely titles for Wall Street shops like “managing editor” and “producer,” all with the goal to sell things and burnish the firm’s brand.
The multimedia Moss will oversee is geared toward both clients who use low-cost online investing options and those who work with financial advisors, the memo said. He will oversee a team of employees including project managers, writers, editors, and event specialists.
The largest US bank’s US wealth business, run by chief executive and former chief marketing officer Kristin Lemkau, has some 4,000 financial advisors and $580 billion of assets under supervision.
Prior to leaving the startup brokerage last month, Moss led content strategy for Marcus, Goldman Sachs’sarm, the memo said. He was also vice president of content at Clarity Money, the personal finance app Goldman bought in 2018 and folded into the Marcus business.