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J.P. Morgan private bank invests in two Swiss fintechs
Global Banking & Finance Review®
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ZURICH (Reuters) – J.P. Morgan Private Bank has invested in two Swiss fintech companies that specialise in software that helps advisers customise portfolios for wealthy clients in Europe, the Middle East, Latin America and Asia, it said on Thursday.
ZURICH (Reuters) – J.P. Morgan Private Bank has invested in two Swiss fintech companies that specialise in software that helps advisers customise portfolios for wealthy clients in Europe, the Middle East, Latin America and Asia, it said on Thursday.
It gave no financial details of what it called a “strategic” investment in Edge Laboratories SA and Evooq SA (Evooq), which were already partners.
Their software focuses on analysing risk, building and optimising portfolios, and offering advisory platforms.
“With this investment, Edgelab and Evooq gain capital at a critical stage of growth for the companies that will help increase resources needed to deliver core portfolio products and initiatives,” Edgelab and Evooq Chief Executive and founder Cedric Ullmo said in a statement.
Edgelab and Evooq, which together employ 285 staff, work for large banks, wealth managers and pension funds.
J.P. Morgan Private Bank, which manages around $1.8 trillion, has since 2021 bought fintech companies OpenInvest and Global Shares and invested in data groups Kraft Analytics Group and MioTech.
(Reporting by Oliver Hirt, writing by Michael Shields)
Fintech refers to technology-driven innovations in financial services, including mobile banking, online investment platforms, and digital payment solutions, aimed at improving and automating the delivery of financial services.
Portfolio management is the process of creating and managing an investment portfolio, which includes selecting and overseeing a mix of assets to achieve specific financial goals while managing risk.
Wealth management is a comprehensive financial service that combines investment management, financial planning, and advisory services to help clients grow and preserve their wealth.
A strategic investment is an investment made with the intention of achieving specific long-term goals, often involving partnerships or acquisitions that align with a company's strategic objectives.
Risk analysis is the process of identifying and assessing potential risks that could negatively impact an investment or business decision, helping to inform strategies for risk management.
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