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JPMorgan is buying UK robo-advisor Nutmeg

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Sign for J.P. Morgan on 7th March 2020 in London, United Kingdom. JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York.

Mike Kemp | Getty Images

LONDON — JPMorgan Chase said Thursday it has agreed to buy British online investment management platform Nutmeg for an undisclosed sum.

The U.S. banking giant said the deal, which is still subject to regulatory approval, would complement its plans to launch a standalone digital bank brand in the U.K. later this year.

With more than £3.5 billion ($4.9 billion) in assets under management, Nutmeg is one of the U.K.’s largest robo-advisors. The company offers a range of…



Source cnbc.com

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