This past Thursday, JPMorgan Chase
Nutmeg, with more than $4.9 billion in assets under management, is one of the United Kingdom's biggest robo-advisors. The company provides a variety of investment accounts, including ISAs, pensions, and general investment accounts. Since their launching in 2012, they have become one of the most accomplished digital challengers in the British wealth management market, building a customer base of 140,000 investors, as well as a growth of 70% year after year.
Sanoke Viswanathan, CEO of International Consumer at JPMorgan Chase said in a statement: "We are building Chase in the U.K. from scratch using the very latest technology and putting the customer's experience at the heart of our offering, principles that Nutmeg shares with us. We look forward to positioning their award winning products alongside our own, and continuing to support their innovative work in retail wealth management."
Upon launching, JPMorgan Chase will have a one-of-a-kind chance to make a difference for U.K. customers, by placing together the confidence of a safe, trustworthy bank with an impeccable customer experience. The bank chooses to provide a variety of products, launching initially with a new perspective on present accounts.
JPMorgan Chase CEO Jamie Dimon stated, this past year that he would be "much more aggressive" in the search for acquisitions to assist the largest United States bank by assets add capabilities. He may have been encouraged by the deals that competitor Morgan Stanley
In the collaboration between Nutmeg and JP Morgan Chase, JP Morgan hopes to instill a much stronger customer experience, as well as to improve business. In establishing a core sense of trust and safety, they plan to bring in more customers, as well as to enhance the quality of service that they are putting forth.