Deals
JPMorgan Buys Digital Wealth Firm Nutmeg for U.K. Expansion
- Deal values Nutmeg at close to 700 million pounds, people say
- Nutmeg has more than 140,000 customers, $4.9 billion of assets
Photographer: Mark Kauzlarich/Bloomberg
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JPMorgan Chase & Co. agreed to buy U.K. digital wealth manager Nutmeg Saving and Investment as it seeks to expand its mobile banking service for retail investors in the country.
Nutmeg has more than 140,000 customers and manages over 3.5 billion pounds ($4.9 billion) of assets, according to a statement from the U.S. bank Thursday. JPMorgan’s digital bank Chase will be launched in the U.K. later this year, it said.