JPMorgan and BlackRock signal M&A appetite in wealth/asset management

JPMorgan signaled an acquisition thesis in M&A consolidation thesis on October 22, 2020.

Primary

JPMorgan

Counterparty

BlackRock

Structure

M&A consolidation thesis

Date

October 22, 2020

Sub-sector

Wealthtech

JPMorgan CEO Dimon and BlackRock CFO Shedlin publicly articulated intent to pursue consolidation deals in wealth and asset management, citing margin pressures and fee compression driving industry consolidation.

Primary company

JPMorgan

Counterparty

BlackRock

Amount

—

Event date

October 22, 2020

Sub-sector

Wealthtech

HQ

—

Structure

M&A consolidation thesis

Source published

October 13, 2020

Publisher

Business Insider

Source: businessinsider.com