JPMorgan sees Nutmeg losses grow to £42m after landmark acquisition
Nutmeg’s losses grew by another £10m last year as the JPMorgan-owned digital wealth manager continues to strive to turn a profit.
Nutmeg reported losses of £42.4m, according to results for the year ended 31 December 2023, up from £32.2m the previous year.
Nutmeg “continues to take a long-term view… to build a business of scale”, the results state, as assets under management grew to £5.6bn from £4.5bn.
