RiskMetrics acquires on-line technology from JP Morgan Chase Private Banking
New York-based risk technology vendor RiskMetrics has acquired Arrakis, the technology platform developed by JP Morgan’s Private Banking Group in 1999 to support the bank’s online site for clients, Morgan OnLine.
“This acquisition signals our continued drive towards sensible consolidation of the wealth management solutions space,” said RiskMetrics Group ceo Ethan Berman in New York. Berman went on to say that Arrakis would be used with RiskMetrics’ existing high net worth investor risk service, WealthBench, to make further inroads in the private client advisory industry.
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