JPMorgan Chase acquired WealthOS, a UK-based pensions technology platform. All WealthOS employees in the UK and Sri Lanka will join the banking giant.
The acquisition bolsters JPMC's presence in the retirement planning market. J.P. Morgan's Personal Investing unit will integrate the technology to enhance pension offerings for clients in the competitive UK private banking sector.
The move targets growing demand for retirement planning products and predictable income solutions.
Financial terms of the transaction were not disclosed.