JP Morgan subsidiary Neovest has completed its acquisition of investment management platform LayerOne Financial. Terms of the deal were not disclosed.
The deal will see Neovest able to offer integrated portfolio, order and execution management services through a single platform for the hedge fund industry. The combined solution will cover the full investment process, allowing clients to monitor portfolios, conduct risk assessments, send orders to brokers, perform compliance checks and manage their positions.
Neovest CEO Jimmi Shah said: “Following this acquisition, Neovest can enable clients to manage their full investment lifecycle with one software provider with industry-leading capabilities. Neovest’s key objectives are creating an exceptional client experience from on-boarding to trade execution management and expanding our product capabilities to advance and differentiate from other investment management platforms. LayerOne’s technology and people are perfectly placed to help us on this journey.”
LayerOne Financial CEO Kyle Zasky said: “Our mission is to deliver innovative and customer-centric products that provide a wide range of critical operational capabilities and insights for clients. The strategic combination of Neovest and LayerOne solidifies our ability to offer a powerful, cohesive and holistic offering. We are so proud of our team and are excited to become part of Neovest. It’s the right next step for our people, our clients and our business.”
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