Nutmeg advised on sale to JPMorgan Chase by Arma Partners

23 June 2021 Consultancy.uk 2 min. read

JPMorgan has purchased wealth management firm Nutmeg to bolster its push into digital banking the UK. Financial advisory firm Arma Partners acted as the exclusive financial advisor to Nutmeg on its sale.

Founded in 2012, Nutmeg is a digital wealth manager delivering investment portfolios tailored to an individual’s risk appetite and investment style. The UK based firm has exposure to multiple asset classes, countries and industry sectors, serving more than 140,000 investors and holding over £3.5 billion in assets under management.

The firm’s rapid growth and positioning in the UK has made it highly sought after among US financial entities looking to access Europe’s digital banking market. In 2019, this led to Goldman Sachs leading a £45 million investment in Nutmeg, before JPMorgan Chase also became interested in the company.

Nutmeg advised on sale to JPMorgan Chase by Arma Partners

Technology is disrupting the investment and wealth management industry by allowing individuals to manage their finances digitally and in real time, and Nutmeg will now complement JPMorgan Chase’s digital bank, which it plans to launch in the UK later in 2021. The new entity will be launched under the Chase brand.

Arma Partners acted as exclusive financial advisor to Nutmeg on its sale. The firm acts as advisor to digital economy leaders throughout their entire corporate lifecycle, from raising private capital for fast-growing disrupters and founder-led businesses to orchestrating complex cross-border M&A deals for private equity investors and global large-cap public companies.

A statement from Arma Partners noted, “Since launching in the UK, Nutmeg has helped to transform this industry... The acquisition of Nutmeg by JPMorgan Chase demonstrates the strength of the digital wealth management market and underscores Arma Partners’ strong track record of delivering exceptional outcomes for FinTech companies.”

2020 was a difficult year for many consultancies, but Arma Partners enjoyed an exceptional 12 months. Due to heightened demand, the firm saw its fee income break through the $100 million for the first time in its eighteen-year history.