JPMorgan Chase enters agreement to acquire digital wealth manager - Nutmeg

London, June 17, 2021 – 澳博官方网站app(纽约证券交易所代码:JPM)今天宣布已达成收购协议 Nutmeg Saving and Investment Limited (Nutmeg), subject to regulatory approval. Nutmeg, one of the U.K.’s leading independent digital wealth managers, will complement the digital bank that is planned for launch in the U.K. later this year under the Chase brand.

Since it launched in 2012, Nutmeg已成为英国财富管理市场上最成功的数字化挑战者之一, building a customer base of over 140,000 investors, and amassing over £3.5 billion of assets under management (AUM) – a growth of 70% year on year. The company offers award winning ISAs¹, Junior ISAs, Lifetime ISAs, 养老金和一般投资账户可通过一系列的投资风格, 包括Smart Alpha投资组合，它结合了主动和被动管理的交易所交易基金(etf).P. Morgan Asset Management.

Sanoke Viswanathan, 澳博官方网站app国际消费者业务首席执行官表示:“我们正在美国建设澳博官方网站app.K. 从零开始使用最新的技术，并将客户的体验放在我们产品的核心, 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.”

Neil Alexander, Nutmeg的首席执行官说:“Nutmeg的客户可以期待同样的透明度, 便利和服务使我们成为美国领先的数字财富管理公司.K. 我对大通正在为美国银行打造的数字体验印象深刻.K., 在我们故事的新篇章中，肉豆蔻的客户将在未来从更广泛的产品和服务中受益, and allow us to expand into new markets.”

Upon launch, Chase will have a unique opportunity to make a difference for U.K. consumers, 通过将一个成熟和值得信赖的银行的保证与无缝的客户体验相结合. The bank intends to offer a range of products, launching at first with a new take on current accounts. 在公开发布之前，该产品目前正处于内部测试阶段.

In the United States, 大通是消费者银行业务的领导者，为超过5600万数字活跃客户提供广泛的银行产品.

JPMorgan Chase was advised by J.P. Morgan Securities plc. as financial advisor, and Freshfields Bruckhaus Deringer LLP as legal counsel. Nutmeg was advised by Arma Partners LLP as financial advisor, and Taylor Wessing LLP as legal counsel.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. 为美国和世界上许多最著名的公司的数百万客户提供服务, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at wt8n.byum.net.

About Nutmeg

Nutmeg is one of the U.K.’s leading digital wealth managers, 在寻求实现财务目标的过程中，为经验丰富和首次投资的投资者提供清晰和透明的服务. Launched in September 2012, Nutmeg now manages over £3.5bn on behalf of over 140,000 clients who have sought the powerful combination of an easy-to-use, adaptable investment service and market-leading human advice. Nutmeg is now the U.K.全球第四大财富管理公司，也是增长最快的财富管理公司之一(PAM: 2021年1月), 在人们寻求技术所能提供的与金钱更密切关系的时候. For more information, please see: www.nutmeg.com

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Press Q&A

When will this deal close?
该交易尚待监管部门批准，但预计将于今年下半年完成.

Will Nutmeg continue to operate as a distinct business?
肉豆蔻客户以及他们目前享受的产品和服务将不受影响. Over time, Nutmeg和澳博官方网站app将共同努力，整合他们的产品和团队，创造更好的客户体验.

What about the Nutmeg brand – will that go away?
Nutmeg is a great brand and enjoys strong consumer awareness in the U.K. We are also lucky to have two strong brands in J.P. Morgan and Chase. 我们将进行详细的研究，并在一段时间内对品牌选择做出深思熟虑的决定.

How will this affect Nutmeg’s customers and their investments?
肉豆蔻客户目前享受的产品和服务将不受影响. Upon closing, 澳博官方网站app打算投资Nutmeg的产品和客户体验，这使其成为美国最成功的数字挑战者之一.K.’s wealth management market.

Will Nutmeg’s products be available to Chase customers in the U.K. when the new digital retail bank launches later this year?
No, not initially. 大通银行将首先推出一个活期账户，通过一个创新的移动应用程序访问. Further product announcements will be made in the months that follow.

This adds wealth management alongside your digital retail offering in the U.K. – when can future Chase customers expect a credit card or savings account?
Chase has plans to offer a full suite of consumer banking products in the U.K. over time. We look forward to making further announcements when we are ready.

一旦Nutmeg推出，Chase会向其客户提供独家优惠吗?
It is too early to talk about any consumer promotions between the two firms, 但任何此类安排都将受制于既定的客户营销偏好.

Why did Chase not build this itself?
我们一直专注于建立经常账户，作为美国第一个数字银行产品.K. market.

从长期来看，肉豆蔻将成为该银行国际零售财富管理业务的基础.

Nutmeg以客户便利性和产品透明度为核心，在数字财富管理领域建立了强大的服务. 它与澳博官方网站app(JPMorgan Chase)有着共同的精神，并拥有互补的产品组合，这将使两家公司能够更好地推动消费者价值.

你们为什么不把现有的美国财富管理业务转移到美国.K.?
我们的美国消费者财富管理平台是专门为这个市场开发的. The regulatory requirements for products in the U.在某种程度上，英国和欧洲是不同的，因此采取不同的方法是有道理的.

What relation will Nutmeg have to J.P. Morgan Asset Management (JPMAM)?
JPMAM已经为Nutmeg现有的投资风格之一——Smart Alpha投资组合提供了支持，澳博官方网站app有机会进一步合作，以造福Nutmeg的客户.

Does this mean Nutmeg portfolios will only use JPMAM ETFs? Will you keep the other portfolio ranges?

肉豆蔻客户不会注意到他们目前享受的产品和服务有任何不同.

谁将领导澳博官方网站app(JPMorgan Chase)的全球消费者财富管理业务?
Upon closing, Neil Alexander, the current CEO of Nutmeg, 执行团队将继续运营该业务，并将在美国与大通一起工作.K.

What about Nutmeg’s own contact centre – will that close?
澳博官方网站app没有计划破坏Nutmeg成功的商业模式或运营, which will continue as they are.

When Chase launches in the U.K.，银行和数字财富管理服务之间是否会有API集成.e. will bank customers be able to see existing Nutmeg portfolios in the Chase app?
Nutmeg customers won’t be able to see their portfolios via the Chase U.K. 但我们将共同努力，随着时间的推移整合体验.

澳博官方网站app会在美国以外的其他国家经营消费者业务吗, other than the U.K.?
Currently, our main focus is on rolling out products and services in the U.K. In the future, we may also consider the opportunity in other markets.