Announcement Of Acquisition Of OpenInvest, Jpmorgan's ESG-Focused Fintech Startup

  Announcement Of Acquisition Of OpenInvest, Jpmorgan's ESG-Focused Fintech Startup JP Morgan Chase & Co said Tuesday it will acquire OpenInvest, a fintech startup backed by Andreessen Horowitz and Y Combinator. Founded in 2015, OpenInvest has various products. These products allow financial advisors to create, manage and report on environmental, social and governance (ESG) portfolios, according to the website. It is also known that ESG offers investment management products. The terms of the deal have not been disclosed yet, though. The bank spokesperson chose not to make financial or legal comments on the upcoming deal. “Customers are increasingly focusing on using their ESG portfolios to use the information to make investment decisions that better fit their goals, and are trying to understand its impact,” said Mary Callahan, CEO of J.P.  Morgan Asset & Wealth Management JPM (NYSE) $154,33 +0,28 (+%0,18)

JP Morgan Chase & Co said Tuesday it will acquire OpenInvest, a fintech startup backed by Andreessen Horowitz and Y Combinator.

In fact, one of the most important reasons for the realization of the agreement was due to the increased interest in companies that performed well in various workforce incentive goals such as reducing climate emissions during the pandemic period. It came into existence weeks after the bank announced it had acquired British digital asset manager Nutmeg to expand into the UK retail banking and investment market.  

Source: Yahoo.Finance

 

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