Terms of the deal, which is expected to close later this year, were not disclosed. It is subject to regulatory approvals.
The acquisition is expected to boost the services J.P. Morgan offers to corporate clients and craft a client acquisition channel wealth management business.
Global Shares was founded in 2005 and has more than 600 corporate clients that range from start-ups to global corporations. It has nearly $200 billion in assets under management across 650,000 employees.
It operates with a team of 600 employees headquartered in Cork, Ireland, and 16 offices in Europe, the Middle East, Africa, North America and Asia Pacific.
Mary Callahan Erdoes, CEO of J.P. Morgan asset and wealth management, said that the addition of Global Shares is complementary to J.P. Morgan’s goal to provide innovative capabilities to private and public companies globally and helping their employees manage their wealth.
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“Together, we will accelerate the expansion of our business globally as well as the range of services we offer to our clients and their employees,” said Global Shares CEO Tim Houstoun in a statement.
Last month, J.P Morgan Chase announced it invested in blockchain intelligence company TRM Labs. The amount of the investment was not disclosed.
Read more: JPMorgan Invests in Blockchain Firm TRM
The investment is expected to help the San Francisco company fund its cryptocurrency compliance and risk management technology.
