By Jaime Llinares Taboada

 

Nutmeg Saving and Investment Ltd. said Thursday that it is being acquired by JPMorgan Chase & Co.

The U.K. digital wealth manager said the transaction will be completed later in the year.

Nutmeg will form the bedrock of JPMorgan Chase's retail digital wealth management offering internationally over the long term, complementing the launch of Chase as a digital bank in the U.K. later in 2021, the company said.

"We are building Chase in the U.K. from scratch using the very latest technology and putting the customer's experience at the heart of our offering, principles that Nutmeg shares with us," said Sanoke Viswanathan, Chief Executive of International Consumer at JPMorgan Chase.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

June 17, 2021 08:14 ET (12:14 GMT)

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