Fubon Financial Holdings, Goldman Sachs and Schroders are set to exit Nutmeg, which will boost JP Morgan Chase's digital wealth management business.
Financial services group JP Morgan Chase has agreed to buy UK-headquartered digital wealth manager Nutmeg, enabling financial services firm Fubon Financial Holdings and investment banks Goldman Sachs and Schroders to exit.
Although the companies did not disclose the size of the transaction, a source close to the deal told Reuters it was sized at nearly £700m ($980m).
Nutmeg operates a digital platform which manages investments for some 140,000 customers, offering a range of products including passively managed exchange-traded funds powered…
