Global wealth management platform FNZ has acquired Fondsdepot Bank, a German platform for trading and custody.
The acquisition of Fondsdepot Bank means FNZ now employs over 1,000 people and manages assets of over €120bn for more than two million customers in Germany.
Fondsdepot Bank is a platform for trading and holding of funds in Germany, with no product interests of its own.
FNZ group CEO Adrian Durham said, “We are delighted to have successfully completed the acquisition of Fondsdepot Bank, which, together with ebase and DIAMOS, accelerates our mission to open up wealth by making wealth management more accessible to more people.
“We also look forward to welcoming Sebastian. He has extensive leadership experience and a track record of success in the German wealth management sector, and I’m confident that the team will continue to grow FNZ’s business in Germany.”
Following the close of the deal, Sebastian Henrichs will continue to be CEO of Fondsdepot Bank, as well as serving as the head of FNZ in Germany.
Henrichs added, “I am very excited about the opportunity to join FNZ and to work with such a strong team. Together, we will continue to grow FNZ’s market-leading client offering by leveraging our combined platform capabilities and market knowledge. All of our employees will play a critical role in achieving this goal, creating even more exciting career opportunities in the future.”
FNZ is an end-to-end wealth management platform, which empowers wealth managers to deliver personalised services and wealth products. It provides expertise and experience to over 650 partners, including Allianz Global Investors, AXA, BNP Paribas, Generali and Gothaer.
The wealth management firm recently acquired specialised WealthTech provider DIAMOS to enhance its global wealth management platform. It hopes the new addition will allow it to advance product and service solutions to its existing end-to-end wealth management platform.
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