Goldman Sachs sells Marcus Invest’s digital investing accounts to Betterment
The deal includes Marcus Invest’s accounts and assets under management.
Investment, Asset & Fund Management
News, intelligence and resources on the global fintech industry including topics such as investment, asset & fund management.
JTC to acquire First Republic Trust Company of Delaware from JP Morgan for $21m
JP Morgan has controlled the unit since its takeover of First Republic Bank last May.
Luxury investments platform Konvi acquires competitors Diversified and Fractible
All investments in Diversified and Fractible will be transferred to Konvi this month.
Fund administrator Alter Domus taps Temenos for Multifonds platform
Temenos says its tech will enable the firm to manage “a significant increase in transaction volumes”.
Wells Fargo to integrate AI into trade finance operations with TradeSun
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
FinTech Founders Video: how to forge successful fintech partnerships
Three fintech founders discuss the best ways to assess a potential partner in financial services.
EQT to sell data management tech firm Rimes to Five Arrows
The parties say they expect the transaction to close “in the coming months”.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
Linqto to go public via $700m SPAC merger with BCSA
The deal is set to close in H2 2024, with Linqto to operate as a wholly-owned subsidiary of BCSA.
Kneip names ABN Amro Investment Solutions exec Elisa Alonso Sanz as new CEO
Sanz will succeed Enrique Sacau, who has served in the position since 2020.
UBS and SuMi Trust joint venture to acquire Credit Suisse wealth management business in Japan
The JV will absorb Credit Suisse’s Japanese advisor base and wealth management assets.
French fintech Linedata acquires AI software developer DreamQuark
Linedata says the purchase will extend its reach to the “critical sectors” of asset management, insurance and credit.
FinTech Futures: Top five news stories of the week – 5 April 2024
Our pick of the top fintech news stories this week includes Nuvei, Westpac, iCapital and more.
iCapital set to acquire investment data firm Mirador
The deal is due to expand iCapital’s data management and reporting capabilities.
US investment management platform FundGuard bags $100m Series C funding
Founded in 2018, this latest capital injection takes its total funding to $155 million to date.
Baader Bank modernises regulatory trade and transaction reporting with Broadridge
Baader Bank already uses Broadridge’s solutions for trading and market connectivity, and order management.
BNY Mellon deploys AI supercomputer from Nvidia
BNY Mellon has deployed Nvidia’s supercomputer, DGX SuperPOD with DGX H100 systems.
7IM expands UK footprint with acquisition of Eastcote Wealth Management
The acquisition will give 7IM a base in the Midlands to broaden the reach of its operations.
Tifin hires ex-BlackRock MD Brooke Juniper as CEO of its AI investment platform Sage
Juniper joins the firm directly from BlackRock, where she has worked since 2007.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
NorthWall Capital partners Broadridge for Sentry portfolio management solution
The UK-based firm will leverage Sentry to streamline and scale its credit investment operations.
Nick Parsons named new Calastone chief technology officer
Calastone has also hired Adam Belding as chief architect of its Digital Investments programme.
CGS International in Singapore taps Broadridge for securities finance platform
The firm will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
Online pension provider PensionBee announces US expansion plan
PensionBee is partnering with an unnamed US financial institution to enter the US market.
Pension and investment mutual Royal London appoints Peter Josse as new group COO
Josse has most recently served as Barclays’ chief information officer, and the group’s digital CIO.
FinTech Futures: Top five news stories of the week – 1 March 2024
Our pick of the top fintech news stories this week includes Webull, Citi, Blackstone, Enfuce and more.
Webull set for Nasdaq public listing via $7.3bn SPAC merger
The merger between Webull and SK Growth Opportunities is due to close in H2 2024.
Citi names former JP Morgan exec Viswas Raghavan as new head of banking
Raghavan is due to take charge of the group’s investment, corporate and commercial banking unit.
Cross River Bank Group launches new investment banking unit
The group’s new investment banking unit will be co-led by Benjamin Samuels and Henry Pinnell.
Blackstone buys $1.1bn of US credit card debt from Barclays
Barclays says it will use the proceeds of the sale to fund an extension of its US lending activities.
Security Bank selects Avaloq to digitise wealth management business
The bank will leverage the Avaloq Core platform and its Relationship Manager Workplace solution.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
The convergence of finance and technology in online trading
The seamless fusion of finance and tech to unlock new dimensions of online trading efficiency and intelligence.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
LPL Financial snaps up Atria Wealth Solutions for $805m
The acquisition will see LPL Financial take ownership of Atria’s seven broker-dealer subsidiaries.
Virgin Money buys out Abrdn stake in investments joint venture
The pair expect to close the all-cash transaction in April.
Schroders Personal Wealth announces launch of new investment platform
The proposed platform is set to arrive in the summer, along with a new client mobile app in Q2.
Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank will also integrate the vendor’s tech to strengthen its retail mobile app.
FinTech Futures: Top five news stories of the week – 26 January 2024
Our pick of the top fintech news stories this week includes Abrdn, Kashable, Synchrony and more.
FinTech Futures: Top five news stories of the week – 12 January 2024
Our pick of the top fintech news stories this week includes Zilo, Ant Group, FirstOntario and more.
