The flagship branch at Michigan Avenue and Pearson Street will have about 50 employees, including 12 private client advisers.

Expected to open next fall, the 11,000-square-foot banking center is being built out in vacant space previously occupied by Uniqlo, the Japanese clothing company.

The Mag Mile location will include a J.P. Morgan Financial Center catering to clients with $1 million to $5 million in assets, a key growth area for the bank.