MutualFundWire.com: Gatch Doubles Down On a Fintech

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Tuesday, September 10, 2019

Gatch Doubles Down On a Fintech

George Gatch is doubling down on his bet on a fintech, and he's not along.

George Gatch
J.P. Morgan Asset Management
CEO

Yesterday, Andres Garcia-Amaya, CEO and founder of Zoe Financial, confirmed that Gatch, J.P. Morgan Asset Management's next chief, and Chris Jones, chair of the investment committee at roboadvisor Acorns, have both invested again in New York City-based Zoe. New investors this round include Third Stream Partners, Advent Technology co-founder Stephanie DiMarco, and former Credit Suisse First Boston president Brian Finn. The new, $3-million round pushes Zoe's total fundraising to $5 million.

Zoe, which aims to help individual investors find independent FAs (the firm has a curated network), now has several fundster and asset management industry ties beyond Gatch. (It is Gatch himself, not JPMAM, that is named as an investor in Zoe.) Zoe chief Garcia-Amaya spent more than five years at JPMAM. Repeat Zoe investor Jones, also a JPMAM alumnus, more recently served as co-head of global active equities at BlackRock. Robert Deutsch, chairman of J.P. Morgan's ETF board, participated in Zoe's $2-million angel round last year, alongside Jones and Gatch. And new Zoe investor Third Stream is led by none other than Blake Grossman: former chairman of Financial Engines, former vice chairman of BlackRock, and former CEO of BGI.

The Zoe team now supports hundreds of investors with more than $140 million in combined assets. The firm launched in February of last year.

Printed from: MFWire.com/story.asp?s=60216

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