Indosuez Wealth Management said on 26 January it had acquired 70% of Wealth Dynamix, a fintech f that provides ‘Client Lifecycle Management' solutions to private banks, wealth management, and asset management firms worldwide.
This acquisition of a majority stake is an extension of the collaboration initiated in 2019 between Indosuez, its 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.
The deal strengthens Azqore's position in the outsourced banking services market while complementing its platform in a key area of client relationship management. It will also enable the company to accelerate its innovation dynamic with the integration of new technical skills and to benefit from the agility of this profitable fintech.
It will further "help Azqore to expand into new client segments, including small and medium-sized players".
Jacques Porst, 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 to 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."
Gary Linieres, chief executive of Wealth Dynamix, said: "We have been working strategically with Indosuez and Azqore for a number of years. We can now further deepen our relationship."
