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Manila Bulletin devider Business devider Banking & Finance devider J.P. Morgan ends Aumni Philippine operations

J.P. Morgan ends Aumni Philippine operations

Published Dec 2, 2025 02:22 pm
American banking giant JPMorgan Chase & Co. is closing the operations of Aumni, a venture capital investment analytics provider, in the Philippines as part of a global shutdown of the subsidiary.
A J.P. Morgan spokesperson said in a Dec. 2 statement that the bank decided to halt Aumni’s services globally after reviewing its products and services. The closure includes its presence in the United States, United Kingdom, India, and the Philippines.
The cessation of Philippine operations will affect an estimated 250 employees, or one percent of Aumni's global workforce.
“We are working with a number of employees to find them other positions within the firm; We continue to invest in our business in the Philippines,” J.P. Morgan stated. The banking giant noted that the country remains a “critical hub” for its global operations.
Aumni, founded in 2018, was acquired by J.P. Morgan in March 2023.
The shutdown is being viewed by analysts as a product-specific, global decision rather than a reflection of local economic weakness.
Reyes Tacandong & Co. Senior Adviser Jonathan Ravelas said Aumni’s closure is “less about the Philippines and more about a global product review. It doesn’t signal weakness in our fintech sector—the bank still calls the country a critical hub and is redeploying talent.”
“For investors, the message is clear: niche analytics plays can be volatile, but the Philippines remains strong for high-skill financial services. The opportunity now is to double down on innovation and diversify beyond single-product bet,” Ravelas added.
Michael Ricafort, Chief Economist at Rizal Commercial Banking Corp., suggested the move likely reflects a business decision tied to global competition and rapid shifts in technology, including artificial intelligence (AI), which also affect its Philippine operations. Ricafort warned that fintech services offered today carry the risk of becoming obsolete due to rapid technological evolution.
John Paolo Rivera, senior research fellow at state policy think tank Philippine Institute for Development Studies (PIDS), said Aumni’s closure sends a “cautionary but not necessarily negative message to foreign investors. It reflects global strategic realignment, not a pullout driven by local conditions.”
Rivera highlighted that this move shows how fintech and analytics firms are exposed to global market swings, leaving local units dependent on decisions made overseas. He stressed the need for the Philippines to boost talent, digital infrastructure, and regulatory clarity to stay competitive as a hub for high-skill financial and tech services.
“The closure may raise questions, but it does not fundamentally undermine the Philippines’ attractiveness; rather, it underscores the need for stronger value-proposition and resilience in the digital services sector,” Rivera concluded.

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