JP Morgan will next week debut on Instagram and also has plans to introduce a Snapchat filter for the first time in the UK, as part of a social media push by the Wall Street bank to boost its appeal to millennials.

JP Morgan is launching a dedicated Instagram account for its global investment banking and asset management businesses, according to a person close to the initiative, following in the footsteps of its retail division Chase, which has 18,000 followers on the photo-sharing site.