FNZ set to acquire German wealthtech provider Diamos
Global wealth management platform FNZ is set to acquire Germany-based Diamos, a specialist wealthtech provider for the asset and wealth management industry, for an undisclosed sum.
Diamos primarily operates in Germany, Austria, Switzerland, Liechtenstein and Luxembourg. With the acquisition, FNZ will gain access to additional product and service solutions in fund administration and alternative assessments.
Wilhelm Velten, owner and CEO of Diamos, says the partnership will “accelerate the growth trajectory” of his firm and that clients will benefit “from FNZ’s global scale and investment”.
FNZ says it will employ more than 1,000 people in the DACH region and over 5,000 globally upon completion of the acquisition, which is subject to regulatory approvals.
Through its platform, FNZ delivers personalised services and wealth products to clients. It claims to manage over $1.5 trillion in assets for more than 20 million investors across the globe. Some of its partners include abrdn, Allianz, Aviva, Barclays, BNP Paribas, Generali and Lloyds.
FNZ has been busy on the acquisition front of late, having snapped up private banking tech provider New Access in July. Last year, it acquired client onboarding vendor Appway, German commercial bank Fondsdepot, and in 2020, investment solution vendor Silica.
In February 2022, it also landed a $1.4 billion investment at a valuation of more than $20 billion.