JP Morgan To Acquire Share Plan Management Software Firm

JP Morgan Chase, one of the world’s largest banks has acquired a share plan management software firm. The company will be integrated into JP Morgan’s existing business practices to provide greater transparency for employees.

On March 15, it was reported that JP Morgan had agreed to buy Global Shares, an Irish cloud-based share plan administration software supplier. The financial parameters of the agreement, however, were not disclosed.

Global Shares has more than 600 business customers, ranging from early-stage start-ups to global public organizations, since its inception in 2005. The organization manages almost $200 billion in assets for around 650,000 corporate employee participants.

It employs approximately 600 people in Europe, Africa, the Middle East, Asia Pacific, and North America, with its headquarters in Cork. Motive Partners, a specialized fintech investor, purchased a 40% investment in the firm in 2018. Motive has consented to the sale, which will take place in the second part of 2022.

Global Shares, according to JP Morgan, will expand the variety of services offered to corporate customers and create a new acquisition channel for its wealth management company. Michael Elanjian, JP Morgan’s head of digital private markets, stated:

“Cap table management tools from Global Shares are an essential complement to our range of digital solutions for private enterprises.”