RiskMetrics acquires on-line technology from JP Morgan Chase Private Banking

Under the agreement, RiskMetrics will assume control of the Arrakis system’s technology, future development, Web hosting, maintenance and support. JP Morgan Chase’s Private Banking Group will retain exclusive rights to Morgan OnLine and its proprietary analytics.

“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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