J.P. Morgan private bank invests in two Swiss fintechs

JPEL Private Equity

01/12/2022 06:08

ZURICH, Dec 1 (Reuters) - J.P. Morgan Private Bank
 JPM.N  has invested in two Swiss fintech companies that
specialise in software that helps advisers customise portfolios
for wealthy clients in Europe, the Middle East, Latin America
and Asia, it said on Thursday.
    It gave no financial details of what it called a "strategic"
investment in Edge Laboratories SA and Evooq SA (Evooq), which
were already partners.
    Their software focuses on analysing risk, building and
optimising portfolios, and offering advisory platforms.
    "With this investment, Edgelab and Evooq gain capital at a
critical stage of growth for the companies that will help
increase resources needed to deliver core portfolio products and
initiatives," Edgelab and Evooq Chief Executive and founder
Cedric Ullmo said in a statement. 
    Edgelab and Evooq, which together employ 285 staff, work for
large banks, wealth managers and pension funds.
    J.P. Morgan Private Bank, which manages around $1.8
trillion, has since 2021 bought fintech companies OpenInvest and
Global Shares and invested in data groups Kraft Analytics Group
and MioTech.
 (Reporting by Oliver Hirt, writing by Michael Shields)
 ((Michael.Shields@thomsonreuters.com; +41 41 528 3630; Reuters
Messaging: michael.shields.thomsonreuters.com@reuters.net))