Financial services data and analytics provider Amaces has been bought by London-based asset management consultancy MJ Hudson.
Amaces provides subscription-based tools and consulting services to help institutional investors benchmark and monitor the cost and quality of the investor services they receive from their custodian banks.
The company also offers tools and related consulting services in the field of FX transaction cost analysis.
Amaces was founded in 2002 by two senior treasury and custody principals that worked together at Chase Manhattan and then Citibank. The company now has an established customer base and operations in Europe, as well as in the US and Canada.
The acquisition expands MJ Hudson’s existing asset management client base from 600-plus managers, pension funds and other asset owners to more than 700, collectively managing in excess of $10tn.
MJ Hudson said the Amaces name will continue as ‘MJ Hudson Amaces’ and all of the services provided by the company will be accessible under the MJ Hudson brand.
Matthew Hudson, CEO of MJ Hudson, said, “Amaces is a leader in its field. The team has built an impressive business, becoming a trusted adviser to a remarkable array of blue chip clients on both sides of the Atlantic.
“The acquisition will complement the consulting, analytics and software capabilities MJ Hudson has already built and allow our clients to benefit from a more comprehensive, technology-enabled suite of services, across multiple markets.
“As well as allowing us to provide new services to MJ Hudson’s European customers, our decision to acquire the company, its software system and IP comes as we seek to further improve the support we provide to our North American clients and begin to grow our profile in the world’s largest asset management market.
“The Amaces team has identified a significant growth opportunity for its market-leading services and we are excited to work with the team to capture this opportunity and help more institutions generate enhanced returns.”
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