JP Morgan Asset Management (JPMAM) has announced a strategic partnership with wealth investment firm Craigs Investment Partners (CIP).
Signing a multiyear memorandum of understanding, the partnership will strengthen JPMAM’s presence in New Zealand and allow CIP to access the firm’s expertise.
Founded in 1984, CIP is based in New Zealand has $28 billion in client funds under management and 180 investment advisers across 19 branches, making it one of New Zealand’s largest investment advisory firms.
It offers private client and investment management services, including investment advice, research, cash management and corporate finance.
Jeremy Williamson, head of private wealth and markets at CIP, said the partnership would allow the business to directly access JPMAM’s global capabilities and expertise.
“The objective of the partnership is to further develop CIP’s investment capabilities and insights by directly accessing JPMAM’s global capabilities and expertise, which will benefit our clients, our advisers and our investment committee. 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.”
From JPMAM’s perspective, the asset manager said CIP will provide JPMAM with a strong partnership to support the growing wealth management space in New Zealand.
Andrew Creber, CEO for Australia and New Zealand, said: “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.
“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.”
Last month, JPMAM partnered with financial technology platform iCapital to broaden access to its alternative investments with Australian wholesale investors.
“There is a growing appetite and surging demand, especially amongst Australian wholesale investors, to access and increase their allocations to alternatives which provide additional sources of uncorrelated returns, income opportunities, inflation management and diversification to their investment portfolios,” said Mark Carlile, JPMAM head of wholesale for Australia and New Zealand.
