J.P. Morgan to shut down investment analytics arm Aumni

MANILA, Philippines — J.P. Morgan, the world’s most valuable bank, is set to shut down the global operations of Aumni, a provider of investment analytics software to the venture capital industry.

This includes the discontinuation of operations in the Philippines, where Aumni constitutes about 1 percent of JP Morgan’s 25,000-strong workforce.

“J.P. Morgan regularly reviews its products and client offerings and we have taken the decision to discontinue Aumni’s services globally, which includes its operations in the U.S., UK, India and the Philippines,” a bank spokesperson said on Tuesday.

However, the spokesperson said that J.P. Morgan “remains committed to the Philippines and the country continues to be a critical hub for our operations globally.” 

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Other industry sources said the American banking giant was trying to find other positions for Philippine employees affected by the shutdown.

The decision to discontinue operations comes two years after J.P. Morgan’s acquisition of Aumni, whose proprietary data analytics engine structures, tracks and analyzes essential legal and economic terms underpinning growth-stage private market transactions.

Founded in 2018, Salt Lake City-based Aumni developed a cloud-based, global technology platform that provided portfolio monitoring and market analytics to private market investors.

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