J.P. Morgan announced on Tuesday, 2 December, that it will shut down financial intelligence company Aumni following an internal review.
The closure affects roughly 250 employees based in the Philippines, representing about one percent of J.P. Morgan Chase’s local workforce.
“J.P. Morgan regularly reviews its products and client offerings, and we have taken the decision to discontinue Aumni’s services globally, which includes its operations in the US, UK, India and the Philippines,” a company spokesperson said.
Platform widely used by venture capital firms
Aumni, an investment analytics firm acquired by J.P. Morgan in 2023, specialized in providing data and software for private market participants. Its platform was widely used by venture capital firms, limited partners, and law firms to analyze private company data, manage venture documents, and monitor portfolio performance.
The bank did not offer a specific reason for Aumni’s shutdown.
Another retreat from select business lines
The move marks another retreat from select business lines following J.P. Morgan’s decision to wind down other units over the past year.
In late 2024, the bank quietly discontinued Capital Connect — its startup — VC matchmaking and fundraising platform launched in 2022 — though the shutdown only surfaced publicly in May 2025.
While the bank did not cite a direct cause, reports suggested the platform failed to operate as J.P Morgan had intended. Its website has since been taken offline, with employees redeployed and the technology repurposed for internal uses.
Also closed: Mobility Payments Solutions in Luxembourg
More recently, on 17 November 2025, J.P. Morgan closed its Mobility Payments Solutions unit in Luxembourg. The business, which focused on digital payments for automotive and mobility services, had recorded persistent losses and had not achieved sustainable profitability. The closure affected 33 employees, with some potentially being reassigned.
J.P. Morgan currently has approximately 25,000 employees in the country, with the spokesperson underscoring the country’s importance for the bank’s global operations.
“J.P. Morgan remains committed to the Philippines, and the country continues to be a critical hub for our operations globally,” the spokesperson said.