J.P. Morgan Private Bank, the company’s offshoot that serves clients with at least $10 million in assets, has announced investment in two Swiss FinTech companies.
J.P. Morgan Private Bank said that the companies – Edge Laboratories SA and Evooq SA (Evooq) – specialise in software that helps advisers customise portfolios for wealthy clients in Europe, the Middle East, Latin America and Asia, while analysing risk, building and optimising portfolios, and offering advisory platforms. Both firms were already partners with the private bank.
This builds on a FinTech portfolio of J.P. Morgan Private Bank, which owns OpenInvest and Global Shares and has invested in Kraft Analytics Group and MioTech.
Commenting on the news, Edgelab and Evooq chief executive and founder Cedric Ullmo said: “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.”
Elsewhere, J.P. Morgan Private Bank has announced the appointment of Ulysses Lau as its head of investment and engagement for Asia. Lau will be responsible for leading investment solutions and specialist teams in the region. She succeeds Diana Robinson, who will move to London to take on a similar role for the UK, Ireland and Channel Islands business.
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