JPMorgan shuts down investment analytics unit, affecting PHL workers

JPMORGAN Chase & Co. has ceased the global operations of its investment analytics arm Aumni that it acquired in 2023, which will affect some of its employees in the Philippines.

“JPMorgan regularly reviews its products and client offerings and we have taken the decision to discontinue Aumni’s services globally, which includes its operations in the US, UK, India and the Philippines,” a JPMorgan spokesperson said in a statement.

“JPMorgan remains committed to the Philippines and the country continues to be a critical hub for our operations globally.”

The shutdown is expected to affect about 250 of the bank’s over 25,000 employees in the Philippines.

JPMorgan acquired Aumni, a provider of investment analytics software to the venture capital industry, in March 2023 to strengthen its position as a leading private markets platform for companies, its employees, and investors. — KKC