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Times are good. Banks are flush. For now. And Jamie Dimon intends to make the most of it.

The biggest U.S. bank by assets has agreed to buy OpenInvest, a San Francisco-based start-up backed by Andreessen Horowitz and founded by former Bridgewater Associates employees…. It’s the third acquisition of a fintech start-up by JPMorgan since December….

And the second in two weeks.

JPMorgan Chase said Thursday it has agreed to buy British online investment management platform Nutmeg for an undisclosed sum…. With more than £3.5 billion ($4.9 billion) in assets under management, Nutmeg is one of the U.K.’s largest robo-advisors.

JPMorgan is buying an ESG investing platform in bank’s third fintech acquisition of the past year [CNBC]
JPMorgan is buying UK robo-advisor Nutmeg to boost overseas retail banking expansion [CNBC]
Wall Street banks hike shareholder payouts after Fed gives the green light [Reuters]
Banks’ Next Act Gets Tougher [WSJ]

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By World Economic Forum (Flickr: The Global Financial Context: James Dimon) [CC BY-SA 2.0], via Wikimedia Commons

Payments For Payments

The latest deal trend is exchanging money for companies that exchange money.

By D J Shin (Own work) [CC BY-SA 3.0 or GFDL], via Wikimedia Commons

UBS Hires Robots To Manage Money For Relatively Poor People

$1.4 billion is a small price to pay to not have to hire financial advisers.

(Getty Images)

New JPMorgan ETF Robot May Not Be Cool, But It Is Cheap

J.D. & co. are betting that’ll be enough to keep the twenty- and thirty-somethings rolling in to their local chase branch.

By World Economic Forum (Flickr: The Global Financial Context: James Dimon) [CC BY-SA 2.0], via Wikimedia Commons

Scrooge McDimon’s War On Christmas

If Dirk Albersmeier catches someone so much as putting a holiday card up in the cubicle, there will be hell to pay: There are SPAC prospectuses to read.

Wells Fargo Bless this Mess

Shareholders Of America’s Worst Bank Amply Rewarded For, Uh, Well, We’re Not Sure, Exactly

Charlie Scharf offers bread and circuses to keep the Wells Fargo masses from calling for his head.


Jamie Dimon Is Not A Luddite

And he’s spending a few hundred million dollars to prove it.