JPMorgan Chase’s acquisition of Nutmeg, the UK’s biggest robo-adviser, is further evidence of the seriousness of its UK digital banking project. It also shows that wealth management will be a vital part of the offering.
After much rumour, including of a bid for UK neobank Starling, JPMorgan said in January it had hired more than 400 people for a greenfield digital consumer bank in the UK, carrying the Chase brand.
Sanoke Viswanathan, London-based international consumer CEO, is expected to launch the bank to consumers later this year.
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