US banking giant JPMorgan has formed a joint venture (JV) between its customer and retail and internet teams, called the Disruptive Commerce Group.
The banking group said that the move is triggered by the rise in digital investments by traditional retailers in the recent times.
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This include recent such deals such as Walmart’s takeover of Jet.com, ModCloth and Bonobos, PetSmart’s acquisition of online pet store Chewy, Target’s investment in e-commerce mattress firm Casper, and Amazon’s purchase of Whole Foods Market.
The new JV will be used to streamline the process for such transactions.
Disruptive Commerce Group will be jointly headed by internet banker Chris Grose and retail banker Jill Woodworth.
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By GlobalData
