JPMorgan to launch its online British retail bank in 2021
On Friday, Sky News reported that JPMorgan Chase & Co (JPM.N) would launch its online British retail bank under its Chase brand in the first quarter of 2021.
The planned venture would rival Goldman Sachs’ (GS.N) Marcus brand and other start-up companies including Monzo and Starling.
According to a reliable source, JPMorgan had signed up with some U.S. suppliers including Amazon Web Services and 10x Future Technologies. It also added that the British Former Chancellor Sajid David would serve as its senior adviser.
“We are delighted to welcome Sajid back to JPMorgan as a senior adviser, and we look forward to drawing upon his in-depth understanding of the business and economic environment to help shape our client strategy across Europe,” JPMorgan’s spokesman said on Monday.
JPMorgan declined to comment on the Sky News report.