18 June 2021

JPMorgan Chase to acquire wealth management firm, Nutmeg

Written By FinTech Alliance in Wealth Management

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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