The partnership with Swiss-based Edge Laboratories and Evooq supports the private bank’s agenda to expand client personalised advice using digital tools.
JP Morgan Private Bank this week announced an investment in Edge Laboratories and Evooq to strengthen its digital investments capabilities for ultra-high net worth clients across Europe, the Middle East, Latin America and Asia.
The investment in Edgelab and Evooq, a Swiss-based wealth management software services company specialising in risk analytics, portfolio construction, and advisory platforms, supports an existing engagement between JP Morgan Private Bank and the two firms.
The overarching goal is to provide client advisors with digital tools to deliver portfolios and personalised planning, the firm said in a statement.
“The relationship with Edgelab and Evooq comes at a time of challenging market conditions,” Adam Tejpaul, JP Morgan International Private Bank head of investments and engagement, said.
“Edgelab’s and Evooq’s multi-asset class risk engine provides our advisors 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,” he continued.
“We are thrilled to partner with JP Morgan Private Bank,” Cédric Ullmo, Edgelab and Evooq CEO and founder 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,” he said.
“The investment comes at a time of increasing digitisation in wealth management and follows a multi-year relationship between JP Morgan and Edgelab and Evooq,” Martin Marron, JP Morgan International Private Bank CEO, continued.
“I am pleased to solidify our existing relationship with Edgelab and Evooq through this investment as we continue to engage on initiatives to support the International Private Bank’s growth,” he said.
Edgelab and Evooq are two sister technology companies which aim to make investments more accessible for professional investors and their clients, reducing the number of tools wealth managers need to do their job.
In Asia, following two partnerships, Edge Laboratories and Evooq opened an office in Singapore during the Covid period and have grown to a team of 30 in less than two years.