JPMorgan seeks top five UK retail position

Reversing a decision to concentrate on the wholesale distribution market, JPMAM has spent heavily in its bid to be a top five retail player in the UK

JPMorgan Asset Management is a big company with big ambitions. With a history stretching back 130 years in the US, it has been active in the UK since acquiring the Robert Fleming/Save & Prosper business, bought by Chase Manhattan in 2000, when it merged with Chase in 2001. After spending several years concentrating on the wholesale distribution market - principally through funds of funds and private banks - in the last two years JPMAM has thrown its considerable weight behind an effort to recapture retail market share. With marketing spend up 40% in two years, and an adviser salesforce th...