JP Morgan Private Bank has invested in two Swiss wealth management companies via an affiliated entity for an undisclosed sum.
The “strategic investments” were in Switzerland-based Edge Laboratories (Edgelab) and Evooq.
The move aims to strengthen the private bank’s digital investment capabilities for its ultra-high net worth (UHNW) clients across Europe, the Middle East, Latin America and Asia.
JP Morgan PB will leverage the companies’ wealth management software services – which include risk analytics, portfolio construction, optimisation, advisory platforms and workflow capabilities – to provide advisers with digital tools to deliver bespoke portfolios and personalised planning.
“The relationship with Edgelab and Evooq comes at a time of challenging market conditions,” said Adam Tejpaul, head of investments and engagement at JP Morgan International Private Bank. “Edgelab’s and Evooq’s multi-asset class risk engine provides our advisers access to powerful risk analytics and ultimate levels of portfolio customisation to help clients best navigate markets and make portfolio decisions that support their investment objectives and broader life goals.”
Cédric Ullmo, chief executive and founder of both Edgelab and Evooq, added: “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.”
