18 June 2021

JPMorgan Chase to acquire wealth management firm, Nutmeg

Written By FinTech Alliance

JPMorgan Chase to acquire wealth management firm, Nutmeg

JPMorgan Chase has announced it will buy Nutmeg, a FinTech that helps consumers invest their money. 

In Brief:

The bank intends to launch a digital bank in the UK later this year. 

Nutmeg will reportedly form the basis of the bank’s wealth management offering. 

Currently, Nutmeg has about 140,000 customers and £3.5bn assets under management. 

What does this mean?

Chase will launch as a digital bank in the UK later this year – but Nutmeg will not just be offered to UK customers as a wealth management solution, being added to the bank’s international offering too. 

Read more here. 

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