JPMorgan to buy digital wealth management platform Nutmeg

JPMorgan today has announced that it has agreed to buy British online wealth manager Nutmeg for an undisclosed sum. The US banking giant stated that the deal is still subject to regulatory approval and it will complement the launch of JPMorgan's standalone digital bank brand in the UK later this year. Besides, with more than £3.5 billion ($4.9 billion) in assets, Nutmeg is one of the UK's largest robo advisors.

Nutmeg offers a range of investment accounts, including ISAs, pensions, and general investment accounts. Nutmeg expects the same level of transparency, convenience, and service that helped make them a leading digital wealth manager in the UK with this new deal. Both companies are looking to position their products among the award-winning ones and continue to support their innovative work in retail wealth management, and become a global leader in this sector.

JPMorgan Securities acted as JPMorgan's financial advisor for the transaction, whereas Freshfields Bruckhaus Deringer was the legal counsel. Arma Partners was a financial advisor, and Taylor Wessing was legal counsel for Nutmeg. JPMorgan did not disclose the deal amount.

 

HSBC USA Expands its Sustainable Finance Offering for Commercial Banking Clients

HSBC Bank USA, a part of the HSBC Group, has announced that it is offering Sustainability-Linked Loans (SLL), enabling US businesses to tie their borrowing to activities that will primarily support a more sustainable, resilient, and prosperous world. The SLLs are available in a variety of corporate loans and credit facilities, with various terms linked to pre-determined sustainability performance targets (SPTs).

In partnership with clients, HSBC structures SLLs concerning the Sustainability Linked Loan Principles, which are voluntary global guidelines set by the independent Loan Market Associations, whereby SPTs are meaningful and ambitious for organizations' business and performance verified and reported regularly. Besides, SPTs include greenhouse gas emissions reduction; renewable energy use, reduced water use, and diversity metrics like increased workforce diversity.

HSBC Group has also announced a net-zero strategy to align its provision of finance with the most renowned Paris Agreement, with a goal of providing net zero by 2050. HSBC also has launched Business Plan for the Planet, a global campaign to build further awareness of the importance of a net-zero economy and to show the world how HSBC can empower businesses to help organizations make a low-carbon transition.

 

 

Digital marketing firm Gozoop Group successfully acquires Stratton Communications

Gozoop Group, an independent digital marketing firm, which offers services such as brand consultancy, social media marketing, influencer marketing, design, and online reputation management to advertisers in a recent press meet, has announced that it has completed the acquisition of a digital agency, Stratton Communications. Stratton will be rebranded as Sm(all); the firm will focus more on challenger brands within the group and will be aiming to expand its market to its target audience.

The company has stated that Sm(all) will provide a strategic advantage to think, act, and evolve like a lean startup at scale. It will operate as an independent agency that will help advertisers achieve a new set of audience engagement through its innovative digital marketing campaigns that are primarily on short-form content platforms.

Sm(all) works with the various brand across different categories such as pharmaceutical company Cipla, hospitality chain Chalet Hotels, real estate firm SILA Group, Opium Eyewear, and Mattel Toys. The company will work to improve its marketing and advertising business by highlighting the need for a hybrid digital media company, and the agency will aim to fulfill all the marketing needs of its clients.

 

 

Samsung has entered Britain following the 5G network deal made with Vodafone

Vodafone, a popular telecoms group from the UK, has recently announced that it is joining hands with Samsung electronics to avail 5G network equipment in the UK. The latest collaboration with help the South Korean manufacturer to enter Europe’s telecom market. Mobile operators from Europe are keen on Samsung entering the market because they want it to replace Huawei as the supplier. As of now, the financial terms of the agreement was not made public. Citing security risks, Britain has ordered all 5G equipment supplied by Huawei to be removed by the end of 2027. This move comes as an echo of the campaign led by the US.

A senior executive from Samsung has revealed that the company is rooting for Europe to propel its growth in the network equipment segment. Richard Webb from CCS Insight has stated that the South Korean company has a long way to go in order to overtake Nokia and Ericsson when it comes to the 5G RAN portfolio, but the company is a worthy competitor. Currently, the European telecom sector is dominated by Ericsson, Huawei, and Nokia, but Samsung has made a grand entry into the market following the deal made with Verizon last year. Various operators are also positive about the latest developments.

 

Dataiku launches managed IT service platform for smaller companies

Enterprise AI platform, Dataiku is launching a new managed IT service platform which is known as Dataiku Online.  As the name suggests, it is a fully managed version of Dataiku. The platform lets the users take advantage of the data science platform without going through a complicated setup process, which mainly involves a system administrator and own infrastructure. Besides, the platform lets users turn raw data into advanced analytics.

The platform also runs some data visualization tasks, create a data-backed dashboard, and train machine learning models. In particular, Dataiku can be used by data scientists, business analysts, and by people who have less technical knowledge. The company is now focusing on big enterprise clients. Currently, Dataiku has more than 400 customers, including Unilever, Schlumberger, GE, BNP Paribas, Cisco, Merck, and NXP Semiconductors.

Customers who use the Dataiku Online platform can take advantage of its pre-built connectors. The users can connect their Dataiku instance with a cloud data warehouse, such as Snowflake Data Cloud, Amazon Redshift, and Google BigQuery. Also, users can connect to a SQL database or just run it on CSV files stored on Amazon S3.