Global wealth management platform FNZ has completed its acquisition of German trading and custody platform Fondsdepot Bank. Sebastian Henrichs will remain in his post as Fondsdepot Bank CEO and will take on leadership of FNZ Germany.
FNZ provides wealth management services to a number of companies, including AXA, BNP Paribas and Allianz Global Investors.
Following the mandate, the company boasts more than 1000 employees and manages more than €120 billion in assets under management for over two million German customers.
The acquisition follows several strategic investments in the German market by FNZ, and will complement investment platform ebase and specialist wealth technology provider DIAMOS.
Henrichs says: “I am excited to join FNZ and 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."
Adrian Durham, group CEO of FNZ, comments: “Fondsdepot Bank, together with ebase and DIAMOS, accelerates our mission to open up wealth by making wealth management more accessible. Sebastian 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.”
