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JP Morgan teams up with NZ wealth leader

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By Jessica Penny
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3 minute read

The financial services giant is pursuing “growth opportunities” in the New Zealand investment space.

JP Morgan Asset Management (JPMAM) and New Zealand-based firm Craigs Investment Partners (CIP) have announced a strategic partnership via a multi-year memorandum of understanding.

The partnership, both companies said in a joint statement, combines the strength of firms that are the “strongest in their respective markets”.

Specifically, JPMAM is looking for a “strong, long-term partner” that will support New Zealand’s growing wealth management segment, according to Mark Carlile, JPMAM head of wholesale for Australia and New Zealand.

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“Our businesses complement each other, and we are excited for future collaboration and growth opportunities providing diversified, quality solutions to New Zealand investors,” Mr Carlile added.

CIP claims to be one of the largest investment advisory firms in New Zealand, comprising more than 650 employees, 180 investment advisers, and $28 billion of client funds under management.

The firm opened its doors in 1984 and entered the Australian market in 2015.

“For CIP, this important relationship supports delivering on our strategy to bring the best opportunities from across the globe to our clients. Craigs has a long history of being local but acting global and this is another example. We look forward to working with the JPMAM team in delivering for our clients,” commented Simon Tong, chief executive officer of CIP.

Jeremy Williamson, the company’s head of private wealth and markets, also confirmed that the partnership will give CIP access to JPMAM’s capabilities and insights.

This, Mr Williamson highlighted, will benefit CIP’s clients, advisers, and investment committee.

He continued: “We are tremendously excited to partner with JPMAM, who we consider to be in the very top tier of global asset management firms and look forward to working with them across many parts of our private wealth business over the coming years.”

JPMAM Australia and New Zealand CEO, Andrew Creber, added that the partnership will equally benefit the wealth giant.

“We’ve chosen to partner with CIP given their position as the leading private wealth investment firm in the New Zealand market and the alignment of both our organisations’ goals and values,” Mr Creber said.

“We believe the strength of CIP and JPMAM will create differentiated client solutions that lay the foundation for a strong and successful partnership. We are here to serve our clients and we are delighted to be doing this in partnership with CIP,” he concluded.

JPMAM recorded assets under management of US$3.1 trillion as of 31 December 2023.

JP Morgan teams up with NZ wealth leader

The financial services giant is pursuing “growth opportunities” in the New Zealand investment space.

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