JPMorgan’s Grip on London Gold Vaults Challenged by Rival Banks

Citigroup Inc. and Morgan Stanley are among banks preparing to challenge the dominance of JPMorgan Chase & Co. in the global gold market by seeking to offer vaulting services in...

By Jack Farchy, Sybilla Gross, Jack Ryan, Yihui Xie · Bloomberg Markets

Citigroup Inc. and Morgan Stanley are among banks preparing to challenge the dominance of JPMorgan Chase & Co. in the global gold market by seeking to offer vaulting services in London, as investor interest in the precious metal surges.