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{{Short description|British investment management company}}
{{Notability|Companies|date=June 2020}}
{{Infobox company
{{Infobox company
| name = Nutmeg Saving and Investment Limited
| name = Nutmeg Saving and Investment Limited
| type = [[Private limited company|Private]]
| type = Subsidiary
| parent = [[JP Morgan]]
| logo = Nutmeg Logo.png
| logo = Nutmeg Logo.png
| logo_size = 200px
| logo_size = 200px
| foundation = 2011
| foundation = 2011
| location = [[Vauxhall]], London, UK
| location = [[Vauxhall]], London, UK
| key_people = Martin Stead, CEO <br> Craig Anderson, Chairman
| key_people = James McManus, CEO <br> William Reeve, Chairman
| industry = [[Investment Management]]
| industry = [[Investment Management]]
| homepage = {{URL|http://www.nutmeg.com}}
| homepage = {{URL|http://www.nutmeg.com}}
}}
}}
'''Nutmeg''' is an online investment management company based in [[London]]. <ref>{{Cite news|url=https://www.bankingtech.com/2017/06/investcloud-brings-fintech-incubator-to-london/|title=InvestCloud brings fintech incubator to London|work=FinTech Futures|access-date=2018-05-18|language=en-gb}}</ref>The company was founded in April 2011 and is registered in the United Kingdom as '''Nutmeg Saving and Investment Limited'''.<ref>[http://data.companieshouse.gov.uk/doc/company/07503666 Nutmeg Saving and Investment Limited] ''Companies House''</ref>
'''Nutmeg''' is an online investment management company based in [[London]].<ref>{{Cite news|url=https://www.bankingtech.com/2017/06/investcloud-brings-fintech-incubator-to-london/|title=InvestCloud brings fintech incubator to London|work=FinTech Futures|access-date=2018-05-18|language=en-gb}}</ref> The company was founded in April 2011 and is registered in the United Kingdom as '''Nutmeg Saving and Investment Limited'''.<ref>[http://data.companieshouse.gov.uk/doc/company/07503666 Nutmeg Saving and Investment Limited] ''Companies House''</ref>


Nutmeg is an online [[Discretionary Investment Management|discretionary investment management]] company (discretionary meaning that it makes all investment decisions on behalf of its customers, rather than providing a platform for people to trade on).<ref>[http://www.ftadviser.com/2012/05/09/training/adviser-guides/q-what-is-a-discretionary-fund-manager-gLSZz1HABFwBVAPcWdwy7N/article.html Discretionary Fund Manager] {{webarchive|url=https://web.archive.org/web/20141028002717/http://www.ftadviser.com/2012/05/09/training/adviser-guides/q-what-is-a-discretionary-fund-manager-gLSZz1HABFwBVAPcWdwy7N/article.html |date=2014-10-28 }} ''The Financial Times''</ref> The company invests customers’ funds in line with their investment goals and appetite for risk. It invests in listed securities, debt, cash, commodities and other investment asset classes, primarily, but not exclusively, via exchange-traded funds (ETFs). It provides an online alternative to stockbroker platforms where customers make their own trading decisions.
Nutmeg is an online [[Discretionary Investment Management|discretionary investment management]] company (discretionary meaning that it makes all investment decisions on behalf of its customers, rather than providing a platform for people to trade on).<ref>[http://www.ftadviser.com/2012/05/09/training/adviser-guides/q-what-is-a-discretionary-fund-manager-gLSZz1HABFwBVAPcWdwy7N/article.html Discretionary Fund Manager] {{webarchive|url=https://web.archive.org/web/20141028002717/http://www.ftadviser.com/2012/05/09/training/adviser-guides/q-what-is-a-discretionary-fund-manager-gLSZz1HABFwBVAPcWdwy7N/article.html |date=2014-10-28 }} ''The Financial Times''</ref> The company invests customers’ funds in line with their investment goals and appetite for risk. It invests in listed securities, debt, cash, commodities and other investment asset classes, primarily, but not exclusively, via exchange-traded funds (ETFs). It provides an online alternative to stockbroker platforms where customers make their own trading decisions.
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== History ==
== History ==
Nutmeg was founded in 2011 by Nick Hungerford (1980–2023) and William Todd.
Nutmeg was founded in 2011 by Nick Hungerford and William Todd. Major shareholders include [[Timothy C. Draper|Timothy Draper]], [[Daniel Aegerter]] via Armada Investment<ref>[http://armada.com/de/Info/About_Armada Armada Investment] ''Armada.com''</ref> Nigel Wray, [[John Kay (economist)|John Kay]], R Todd Ruppert, [[Balderton Capital]], [[Schroders]], [[Charles Dunstone|Sir Charles Dunstone]], [[Michael Spencer]] and [http://www.pentechvc.com/ Pentech Ventures].<ref>[http://www.pentechvc.com/ Pentech Ventures] ''Pentechvc.com''</ref> Hungerford served as [[Chief Executive Officer]] until he was replaced by Martin Stead in May 2016.


In 2019, [[The Economist]] described Nutmeg as a "hit fintech startup" and as being a client of Carta, a firm that keeps track of the stakes in companies.<ref>{{cite news |title=New firms help startups keep track of their owners |url=https://www.economist.com/business/2019/07/06/new-firms-help-startups-keep-track-of-their-owners |access-date=31 December 2020 |work=The Economist |date=6 July 2019}}</ref>
Nutmeg had over 50,000 customers and managing over £1B billion of assets under management as at December, 2017.

Martin Stead left the company in 2019, following a loss of £18.6 million. Nutmeg has yet to make a profit.<ref>{{Cite web|date=2019-12-18|title=Chief executive of digital wealth manager Nutmeg to quit|url=https://www.cityam.com/chief-executive-of-digital-wealth-manager-nutmeg-to-quit/|access-date=2020-07-08|website=CityAM|language=en-GB}}</ref>

Nutmeg managed portfolios worth £1.9 billion as of December 2019.<ref>{{cite news |title=Wealth managers are promising business-class service for the masses |url=https://www.economist.com/finance-and-economics/2019/12/18/wealth-managers-are-promising-business-class-service-for-the-masses |access-date=31 December 2020 |work=The Economist |date=18 December 2019}}</ref>

The company had around 80,000 customers and managed £2bn in assets as of January 2020.<ref>{{Cite news|title=Nutmeg assets top £2bn following senior management shake-up|language=en|work=Wealth Manager|url=https://citywire.co.uk/wealth-manager/news/nutmeg-assets-top-2bn-following-senior-management-shake-up/a1319051|access-date=2020-07-08}}</ref>

The company was purchased by [[JP Morgan]] for £700m in June 2021.<ref>{{Cite web|url=https://www.bbc.co.uk/news/business-66065050|title=Nutmeg co-rounder Nick Hungerford sets up charity for bereaved children|date=30 June 2023}}</ref>


== Personnel ==
== Personnel ==
Key personnel within the organisation include Craig Anderson (Chairman), Martin Stead (CEO), Neil Alexander (CFO), Matt Gatrell (CTO), Darragh Geraghty (Chief Risk and Compliance Officer), Shaun Port (Chief Investment Officer), Lisa Rodwell (Chief Customer Officer). Board members are:<ref>https://www.nutmeg.com/about/nutmeg-board</ref> Daniel Aegerter (Chairman), Stephen Clark, Nick George, Tim Bunting, Nick Hungerford, Martin Stead, Neil Alexander, Shaun Port and Johnny Chen.
Key personnel within the organisation include Neil Alexander (CEO), Matt Gatrell (COO), Darragh Geraghty (Chief Risk and Compliance Officer) and James McManus (Chief Investment Officer).<ref>{{Cite web|url=https://www.nutmeg.com/about/executive-team|title=Executive team &#124; Nutmeg - Nutmeg|website=www.nutmeg.com}}</ref> Board members are: William Reeve (Chairman), Johnny Chen, Roman Cheng, Craig Anderson, Stephen Clark, Neil Alexander and Matt Gatrell.<ref>{{Cite web|url=https://www.nutmeg.com/about/nutmeg-board|title=Nutmeg board &#124; Nutmeg - Nutmeg|website=www.nutmeg.com}}</ref>


== Operations ==
== Operations ==
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== References ==
== References ==
{{Reflist}}
{{Reflist}}
[[Category:Robo-advisors]]

[[Category:2011 establishments in the United Kingdom]]
[[Category:2011 establishments in the United Kingdom]]
[[Category:Investment companies of the United Kingdom]]
[[Category:Investment companies of the United Kingdom]]

Latest revision as of 21:17, 29 August 2023

Nutmeg Saving and Investment Limited
Company typeSubsidiary
IndustryInvestment Management
Founded2011
FounderNick Hungerford Edit this on Wikidata
HeadquartersVauxhall, London, UK
Key people
James McManus, CEO
William Reeve, Chairman
ParentJP Morgan
Websitewww.nutmeg.com

Nutmeg is an online investment management company based in London.[1] The company was founded in April 2011 and is registered in the United Kingdom as Nutmeg Saving and Investment Limited.[2]

Nutmeg is an online discretionary investment management company (discretionary meaning that it makes all investment decisions on behalf of its customers, rather than providing a platform for people to trade on).[3] The company invests customers’ funds in line with their investment goals and appetite for risk. It invests in listed securities, debt, cash, commodities and other investment asset classes, primarily, but not exclusively, via exchange-traded funds (ETFs). It provides an online alternative to stockbroker platforms where customers make their own trading decisions.

Nutmeg provides investors with online access to investment management taking their inspiration from the tech world rather than the financial sector.[4][5]

History

[edit]

Nutmeg was founded in 2011 by Nick Hungerford (1980–2023) and William Todd.

In 2019, The Economist described Nutmeg as a "hit fintech startup" and as being a client of Carta, a firm that keeps track of the stakes in companies.[6]

Martin Stead left the company in 2019, following a loss of £18.6 million. Nutmeg has yet to make a profit.[7]

Nutmeg managed portfolios worth £1.9 billion as of December 2019.[8]

The company had around 80,000 customers and managed £2bn in assets as of January 2020.[9]

The company was purchased by JP Morgan for £700m in June 2021.[10]

Personnel

[edit]

Key personnel within the organisation include Neil Alexander (CEO), Matt Gatrell (COO), Darragh Geraghty (Chief Risk and Compliance Officer) and James McManus (Chief Investment Officer).[11] Board members are: William Reeve (Chairman), Johnny Chen, Roman Cheng, Craig Anderson, Stephen Clark, Neil Alexander and Matt Gatrell.[12]

Operations

[edit]

Nutmeg’s investment division manages customer assets. It primarily uses Exchange-traded funds (ETFs) as their vehicle for investing customers’ funds.

References

[edit]
  1. ^ "InvestCloud brings fintech incubator to London". FinTech Futures. Retrieved 2018-05-18.
  2. ^ Nutmeg Saving and Investment Limited Companies House
  3. ^ Discretionary Fund Manager Archived 2014-10-28 at the Wayback Machine The Financial Times
  4. ^ Nutmeg mission statement The Financial Times
  5. ^ Tech World Inspiration London Evening Standard
  6. ^ "New firms help startups keep track of their owners". The Economist. 6 July 2019. Retrieved 31 December 2020.
  7. ^ "Chief executive of digital wealth manager Nutmeg to quit". CityAM. 2019-12-18. Retrieved 2020-07-08.
  8. ^ "Wealth managers are promising business-class service for the masses". The Economist. 18 December 2019. Retrieved 31 December 2020.
  9. ^ "Nutmeg assets top £2bn following senior management shake-up". Wealth Manager. Retrieved 2020-07-08.
  10. ^ "Nutmeg co-rounder Nick Hungerford sets up charity for bereaved children". 30 June 2023.
  11. ^ "Executive team | Nutmeg - Nutmeg". www.nutmeg.com.
  12. ^ "Nutmeg board | Nutmeg - Nutmeg". www.nutmeg.com.
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