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Nutmeg and Chase UK boss Sanjiv Somani exits JP Morgan

Chase recently revealed it now has 1.6 million customers and £15bn in deposits, just under two years since its launch.

Sanjiv Somani/Chase.

Sanjiv Somani/Chase.

Sanjiv Somani, the JP Morgan exec overseeing the bank’s fintech challenger business Chase in the UK, has stepped down.

Somani, who has worked at JP Morgan since 2016, has led Chase since its launch in 2021 in the UK and was managing director of  International Consumer Banking UK.

The digital bank recently revealed it now has 1.6 million customers and £15bn in deposits. 

He also took over the role of CEO of Nutmeg - the digital wealth manager acquired by JP Morgan in 2021 ahead of Chase’s launch - from Neil Alexander last year. 

London-based Sanoke Viswanathan runs the overall International Consumer Banking division - which includes Chase in the UK as well as Nutmeg and international expansion plans for the brands - is taking up direct control of the UK, AltFi understands.

Somani is also a director of 10x Future Technologies, the technology company set up by former Barclays boss Antony Jenkins. Chase runs on 10x's technology platform.

JP Morgan declined to comment.

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