Deals
JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Asset-management unit has met with Global X, ETF Securities
- ETF Securities has spoken with as many as 10 potential buyers
Photographer: Yuriko Nakao/Bloomberg
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JPMorgan Chase & Co. is shopping around for an ETF business that would boost its presence in the $3.5 trillion U.S. exchange-traded products market, according to people familiar with the matter.
The bank’s asset-management unit has had talks with the U.S. business of ETF Securities, said two of the people, who asked not to be identified because the information is private. JPMorgan also spoke with Global X, which it held a minority stake in at one point, though that firm entered into a definitive agreement this week to be purchased by South Korea’s Mirae Asset Management, the people said.