Global wealth management platform FNZ has agreed to acquire specialised WealthTech provider DIAMOS to enhance its global wealth management platform.
This deal will enable FNZ to bolster its global client proposition by adding advanced product and service solutions to its existing end-to-end wealth management platform.
DIAMOS is active in Germany, Austria, Switzerland, Liechtenstein, and Luxembourg.
It will provide FNZ with advanced technology expertise in fund administration and alternative investments, as well as domain expertise and deep knowledge across the entire wealth management value chain.
This acquisition, which is subject to approvals, is part of FNZ’s investment into Europe. The company will employ more than 1,000 people across the DACH region and over 5,000 globally upon completion.
DIAMOS owner and CEO Wilhelm Velten said, “In partnership, we will now accelerate the growth trajectory that DIAMOS has achieved by leveraging the strength and global expertise of the FNZ team.
“DIAMOS’ clients will benefit from FNZ’s global scale and investment. Our employees will be critical to delivering on this ambition, which offers even more exciting long-term career opportunities in the future.”
FNZ offers an end-to-end wealth platform. It boasts cutting-edge technology, infrastructure and investment operations in a single platform, allowing wealth managers to deliver personalised services and wealth products that meet the needs of clients.
It currently administers over $1.5trn in client assets for over 20 million investors around the world.
FNZ Group CEO Adrian Durham said, “We are excited to be making another significant investment in the German wealth management sector and are delighted to partner with the DIAMOS team, given their successful record and deep knowledge of the market.
“The acquisition of DIAMOS reflects our continued focus on enhancing our client proposition, while bringing our innovative approach and investment to DIAMOS’ strong client base.”
Earlier in the week, FNZ made an investment into PropTech platform Nokkel. The company offers a platform to help buyers search for properties, while giving owners access to more financial services.
Copyright © 2022 FinTech Global
