Nutmeg (company)

JP Morgan Personal Investing
Company typeSubsidiary
IndustryInvestment management
Founded2011
FounderNick Hungerford Edit this on Wikidata
HeadquartersCanary Wharf, London
Key people
Nick Hungerford
Martin Stead
James McManus
William Reeve
ParentJP Morgan
Websitewww.personalinvesting.jpmorgan.com

JP Morgan Personal Investing is an online discretionary investment management company or robo-adviser based in London.[1][2] The company was founded as Nutmeg Saving and Investment Limited in 2011.[3]

History

Nutmeg was founded in 2011 by Nick Hungerford (1980–2023) and William Todd. In 2016, Nick Hungerford stepped down as CEO, being replaced by Martin Stead, formerly Nutmeg's CMO.[4]

In 2019, The Economist described Nutmeg as a "hit fintech startup" and as being a client of Carta, a firm that keeps track of the stakes in companies.[5]

Martin Stead left the company in 2019, following a loss of £18.6 million, at that point yet to make a profit.[6] Nutmeg managed portfolios worth £1.9 billion as of December 2019.[7]

The company had around 80,000 customers and managed £2bn in assets as of January 2020.[8]

The company was purchased by JP Morgan for a reported £700m in June 2021.[9]

In October 2021, JP Morgan announced that it would rebrand Nutmeg as JP Morgan Personal Investing.[10]

Operations

JP Morgan Personal Investing's investment division manages customer assets. It primarily uses Exchange-traded funds (ETFs) as their vehicle for investing customers’ funds.

JP Morgan Personal Investing is an online discretionary investment management company (discretionary meaning that it makes all investment decisions on behalf of its customers, rather than providing a platform for people to trade on).[11] The company invests customers’ funds in line with their investment goals and appetite for risk. It invests in listed securities, debt, cash, commodities and other investment asset classes, primarily, but not exclusively, via exchange-traded funds (ETFs). It provides an online alternative to stockbroker platforms where customers make their own trading decisions.

References

  1. ^ "InvestCloud brings fintech incubator to London". FinTech Futures. Retrieved 2018-05-18.
  2. ^ "JPMorgan is buying UK robo-advisor Nutmeg to boost overseas retail banking expansion". CNBC. Retrieved 2025-06-08.
  3. ^ Nutmeg Saving and Investment Limited Companies House
  4. ^ Nutmeg chief Hungerford stepping down https://www.cityam.com/nutmeg-chief-nick-hungerford-is-stepping-down/
  5. ^ "New firms help startups keep track of their owners". The Economist. 6 July 2019. Retrieved 31 December 2020.
  6. ^ "Chief executive of digital wealth manager Nutmeg to quit". CityAM. 2019-12-18. Retrieved 2020-07-08.
  7. ^ "Wealth managers are promising business-class service for the masses". The Economist. 18 December 2019. Retrieved 31 December 2020.
  8. ^ "Nutmeg assets top £2bn following senior management shake-up". Wealth Manager. Retrieved 2020-07-08.
  9. ^ "Nutmeg co-rounder Nick Hungerford sets up charity for bereaved children". 30 June 2023.
  10. ^ Editor, Ben Martin, Banking (2025-10-01). "JP Morgan Chase to enter DIY investment arena". www.thetimes.com. Retrieved 2025-12-11. {{cite web}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
  11. ^ Discretionary Fund Manager Archived 2014-10-28 at the Wayback Machine The Financial Times
allikas: https://en.wikipedia.org/wiki/Nutmeg_(company)