FNZ acquires wealth management software firm JHC
Global fintech FNZ has created one of the UK’s top broking platforms by acquiring wealth management platform software provider JHC Systems, reports Jane Connolly.
London-based JHC’s software solutions – Figaro, Neon and Xenon – help wealth managers to improve their portfolio management, account administration, regulatory compliance and risk analysis.
The company has 500,000 end users, £160 billion in assets under management on platforms powered by JHC software and employs around 240 people across four offices in the UK and Dubai.
“JHC has a market-leading and well-established technology platform in the UK, combined with new state-of-the-art digital solutions,” says Adrian Durham, chief executive of FNZ. “We see a great opportunity to not only consolidate our combined position in the UK market, but to take JHC technology propositions into new strategic territories – such as APAC and continental Europe – and into new product areas.”
John Blackman, chief executive at JHC, adds: “Joining forces with FNZ is the perfect way for us to grow our business. It is great news for our clients as FNZ is committed to investing in Figaro, Neon and Xenon and supporting our plans for the future. FNZ will support JHC in enhancing and growing our Software-as-a-Service (SaaS) offerings and gives JHC the opportunity to offer new, broader functionality to our clients.”
Blackman also comments that the deal will provide the scale required for JHC to compete in the increasingly competitive fintech world.
Earlier this week, FNZ announced it had acquired German investment platform company Ebase.