Global wealth manager Indosuez Wealth Management has acquired 70% of UK-headquartered Wealth Dynamix for an undisclosed sum.
The wealthtech firm was founded in 2012 and provides client lifecycle management solutions to private banks, and wealth management and asset management firms worldwide. Wealth Dynamix has offices in London, New York, Singapore, Geneva, Zurich, Paris and Vilnius.
The acquisition is an extension of the collaboration initiated in 2019 between Indosuez subsidiary Azqore, which specialises in the outsourcing of information systems and the processing of banking operations for private banking and wealth management players, and Wealth Dynamix.
It strengthens Azqore’s position in the outsourced banking services’ market while complementing its offering in client relationship management tech. The deal will help Azqore expand into new client segments, including small- and medium-sized players.
Jacques Prost, chief executive of Indosuez Wealth Management, said: “This operation, which reinforces Indosuez’s innovation dynamic, will enable Azqore to broaden its offer and strengthen its value proposition, thus contributing to its attractiveness in its market. It will also benefit the development and transformation of all its partners by allowing for more personalisation, digitalisation and autonomy for their clients.”
Indosuez Wealth Management employs nearly 3,000 people in 10 locations around the world, in Europe (Belgium, France, Italy, Luxembourg, Monaco, Spain and Switzerland), Asia Pacific (Hong Kong, New Caledonia and Singapore) and the Middle East (UAE).
