JPMorgan acquires fintech that specializes in sustainability OpenInvest

The large US bank JPMorgan Chase announced that it has reached the level of Agreement to buy technology company OpenInvest, specializes in investments with social, environmental and governance standards (ESG, for short).

JPMorgan, which did not provide details of the amount, has Intent to integrate this platform into the Wealth Management department Fintech was created in 2015 to help advisors “improve the real impact of their clients’ investments,” it said in a statement.

Several financial institution executives commented in the memo on Greater interest from your customers to make “investment decisions that best align with your goals” And the possibility of “change” that will be offered to them thanks to this process.

“he is Acquisition advances our strategic focus on sustainable investment“We are delighted to welcome OpenInvest at JPMorgan,” said Ben Hess, Head of Strategy and Business Development for Wealth Management.

JPMorgan recently bought a 55ip, a fintech firm specializing in tax-optimized investment strategies, intends to combine its capabilities with those of OpenInvest to provide clients with “custom solutions” that are aligned with their values ​​and are “financially efficient”.

Likewise, the entity headquartered in New York and operated by Jamie Dimon This month bought a nutmeg technology platform, One of the UK’s largest automated investment advisors.

Last February, at JPMorgan Investor Day, Dimon announced that he would seek “vigorously” Acquisition in the fields of technology and financial services To meet the growing competition from big technology and fintech.

After learning the information, the bank’s shares rose 0.54 percent on the New York Stock Exchange. Since the beginning of the year, its value has increased by 22 percent.

AMP