J.P. Morgan agrees to acquire Global Shares, a leading provider of share plan management software

Rhea-AI Summary

J.P. Morgan has announced the acquisition of Global Shares, a cloud-based share plan management software provider. This strategic move aims to enhance J.P. Morgan's wealth management services and create new client channels. Global Shares, founded in 2005, serves over 600 corporate clients with nearly $200 billion in assets. The acquisition is expected to close in the second half of 2022 and will integrate Global Shares into J.P. Morgan's wealth management operations, supporting its growth and expanding its service offerings.

Positive

• Acquisition enhances J.P. Morgan's wealth management services.
• Global Shares serves over 600 corporate clients with $200 billion in assets.
• Integration of Global Shares expected to support growth agenda.

Negative

• None.

Acquisition will bolster the range of services offered to corporate clients and creates a new client acquisition channel for J.P. Morgan's wealth management businesses

NEW YORK and CORK, Ireland, March 15, 2022 /PRNewswire/ -- J.P. Morgan today announced that it has entered into an agreement to acquire Global Shares, a leading cloud-based provider of share plan management software. Global Shares' employee ownership solutions cover the entire company lifecycle, and caters to corporates worldwide. The deal – the terms of which have not been disclosed – is subject to regulatory approvals and closing. The transaction is expected to close in the second half of 2022.

Founded in 2005, Global Shares has an expansive client base of over 600 corporate clients that range from early-stage start-ups to mature multinational public corporations. The firm has nearly $200 billion in assets under administration across 650,000 corporate employee participants. It operates with an experienced team of more than 600 employees headquartered in Cork, Ireland and 16 further locations across Europe, the Middle East & Africa, North America and Asia Pacific. Since July 2018, Global Shares has been partnered with specialist fintech investor, Motive Partners.

"The addition of Global Shares is complementary across our entire J.P. Morgan franchise from new client acquisition for our Global Private Bank and U.S. Wealth Management businesses to providing new, innovative capabilities to private and public companies globally and helping their employees manage their wealth," said Mary Callahan Erdoes, CEO, J.P. Morgan Asset & Wealth Management.

"We are tremendously excited to partner with J.P. Morgan and to continue on our journey of being a leading player in equity incentive services. 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. This is a great news for both our clients and all of our employees," said Tim Houstoun, CEO, Global Shares.

"We are excited about the potential to partner with corporates globally and help to deliver a range of wealth management solutions to Global Shares' equity plan participants," said Michael Camacho, CEO of Wealth Management Solutions, J.P. Morgan.

"Global Shares' cap table management capabilities represent an important addition to the portfolio of digital solutions we are building for private companies," said Michael Elanjian, Head of Digital Private Markets, J.P. Morgan.

Over time, J.P. Morgan will integrate Global Shares into its Asset & Wealth Management line of business, supporting the next phase of Global Shares' growth agenda.  The company will remain headquartered in Cork, Ireland.

J.P. Morgan was advised by J.P. Morgan Securities, LLC as financial advisor and Freshfields Bruckhaus Deringer LLP and McCann FitzGerald LLP as legal counsel. Global Shares was advised by BofA Securities as financial advisor and Proskauer Rose LLP and Arthur Cox LLP as legal counsel.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $294.1 billion in stockholders' equity as of December 31, 2021. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About Global Shares
Global Shares is a leading global fintech company which simplifies employee ownership for companies in the US and worldwide. Founded in 2005, Global Shares has developed a cloud-based, global technology platform that provides equity management solutions to clients with employees across multiple jurisdictions. With headquarters in Clonakilty, Ireland, and 17 offices worldwide, Global Shares has a team of 600+ employees. It is regulated under MiFID and FINRA. Global Shares won Technology Ireland's 2021 'Technology Company of the Year' and it is a 'Best in Tech' Great Place to Work® accredited workplace. It has been a Deloitte Fast 50 company since 2017, when it won FinTech Company of the Year. For more information please visit www.GlobalShares.com.

View original content:https://www.prnewswire.com/news-releases/jp-morgan-agrees-to-acquire-global-shares-a-leading-provider-of-share-plan-management-software-301502765.html

SOURCE J.P. Morgan

FAQ

What is the significance of J.P. Morgan's acquisition of Global Shares?

The acquisition enhances J.P. Morgan's wealth management offerings and creates a new client acquisition channel.

When is the expected closing date for the Global Shares acquisition?

The transaction is expected to close in the second half of 2022, subject to regulatory approvals.

How many corporate clients does Global Shares have?

Global Shares serves over 600 corporate clients globally.

What is the total assets under administration managed by Global Shares?

Global Shares has nearly $200 billion in assets under administration.

Who will benefit from the acquisition of Global Shares?

The acquisition will benefit both J.P. Morgan's clients and Global Shares' clients by expanding service offerings.