JPMorgan Chase (JPM) has reportedly agreed to acquire WealthOs, a wealth management software business headed by former Google executive John Herlihy.
The deal was announced to JPMorgan’s Nutmeg personal investing division this week, SkyNews reported, citing an internal memo.
The company has been boosting its presence in the U.K., especially in personal banking and wealth management. It started a digital savings bank in the kingdom under the Chase brand in 2021 and acquired Nutmeg, a digital wealth management platform, for ~£700M the same year.
JPMorgan Chase (JPM) stock rose 1.4% in late morning trading on Thursday.
The company didn’t immediately respond to Seeking Alpha’s request for comment.