Deals
JPMorgan Agrees to Buy Share-Plan Software Company Global Shares
- Target company has more that 650,000 employee participants
- Dimon has been buying up companies as competition intensifies
A Chase bank branch in New York, U.S., on Thursday, Jan. 13, 2022.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
JPMorgan Chase & Co. agreed to buy Global Shares, a provider of cloud-based software for managing employee share plans, as the biggest U.S. bank scoops up firms to fend off competition.
Global Shares will be integrated into JPMorgan’s asset- and wealth-management arm, run by Mary Erdoes, the bank said in a statement Tuesday. The Cork, Ireland-based software firm has almost $200 billion in assets under administration, more than 650,000 employee participants and roughly 600 corporate clients. Terms of the transaction weren’t disclosed.