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Report: JPMorgan considers M&A for ETF biz expansion

JPMorgan Chase & Co.'s asset-management unit, in a push to grow its exchange-traded fund business, has reportedly been in talks with potential acquisition targets.

It has spoken with both ETF Securities' U.S. subsidiary and with Global X Management Co. LLC, Bloomberg News reported Feb. 16, citing "people familiar with the matter." Global X, however, ended up striking a deal with Mirae Asset Global Investments Co. Ltd.

ETF Securities, meanwhile, is in talks with other would-be acquirers, including the U.K.'s Aberdeen Asset Management, according to Bloomberg. ETF Securities reportedly expects to be acquired within the quarter.