Global wealth management platform FNZ has agreed to acquire Diamos, the wealthtech provider for the asset and wealth management industries, for an undisclosed sum.
Diamos is primarily active in the markets of Germany, Austria, Switzerland, Liechtenstein, and Luxembourg.
It will provide FNZ with technology expertise in fund administration and alternative investments, along with knowledge across the entire wealth management market.
The acquisition of Diamos, subject to approvals, will see FNZ employ more than 1,000 people across the DACH region and over 5,000 globally upon completion.
Today, FNZ administers more than $1.5trn (£1.31trn, €1.5trn) in client assets on its platform for over 20 million investors worldwide.
Adrian Durham, group chief executive of FNZ, 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. We look forward to welcoming our new colleagues and working together to open up wealth, helping everyone to invest in their future, on their terms.”
The deal follows FNZ’s acquisition of Swiss-based private banking tech company New Access for an undisclosed sum.
