London, 4th November 2021: FNZ, the leading global wealth management platform, has agreed to acquire Fondsdepot Bank, one of Germany’s leading independent trading and custody platforms. Subject to receipt of the necessary regulatory clearances, the acquisition is expected to close mid-2022. Terms of the agreement are not being disclosed.
Established in 1993, Fondsdepot Bank is a business-to-business (B2B) and business-to-business-to-consumer (B2B2C) independent bank with more than two decades of experience connecting fund providers to distributors in Germany. It works with more than 330 fund providers and maintains long-lasting relationships with over 200 distribution partners, offering them simplified access to over 12,000 investment funds and Exchange-Traded-Funds (ETFs) and the custody of their customers’ portfolios in custody accounts.
Fondsdepot Bank employs around 500 people, manages more than 1 million investment accounts and manages over €60 billion in assets under administration.
FNZ provides an integrated technology, transaction and custody platform to wealth managers, banks, insurers, and asset managers in 18 countries across Europe, Asia-Pacific, and North America, enabling digital wealth management for around 12 million investors with approximately €1 trillion in assets under administration. The acquisition is consistent with FNZ’s strategy in Germany, one of Europe’s largest asset management markets, due to Fondsdepot Bank’s strong customer relationships.
Under FNZ’s ownership, Fondsdepot Bank’s ambitions will remain focused on growing its digital platform whilst maintaining its strong position in Germany. Led by current chief executive Sebastian Henrichs, the team will benefit from FNZ’s technology, resources, and international reach in their efforts to further scale Fondsdepot Bank’s business.
Adrian Durham, Group CEO of FNZ, said: “We are excited to be making another strategic investment in the German asset and wealth management sector. We are keen on partnering with Fondsdepot Bank’s management and team, given their successful track record and their deep knowledge and understanding of the market.” “This is another important milestone for FNZ Group and reaffirms our commitment to becoming a leading partner for digital financial services in Germany and Europe. We look forward to welcoming our new colleagues and working together to further develop our proposition in this strategically important market.”
Sebastian Henrichs, CEO of Fondsdepot Bank, commented: “We are delighted to join forces with FNZ Group. In partnership with FNZ we will accelerate the growth trajectory that Fondsdepot Bank has achieved in recent years. By leveraging our platform capabilities and expertise in the market, alongside FNZ Group’s scale and technology, we will be able to offer a strong value proposition to existing and future partners. Our employees will be critical to delivering on this ambition, which offers even more exciting long-term career opportunities in the future.”
For more information on FNZ, please contact:
Alasdair Munro, FNZ E: alasdair.munro(at)fnz.com
M: +44 7841 456347
For more information on Fondsdepot Bank, please contact:
Marco Pries, Fondsdepot Bank
T: +49 9281 7258-2377
FNZ is a global wealth management platform, transforming the way financial institutions serve their wealth management customers. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals.
FNZ's integrated technology, transaction and custody services enable their clients to provide best-in-class wealth management solutions to financial advisers, end-investors and the workplace that are efficient, flexible, transparent and scalable, supporting market, demographic and regulatory trends worldwide.
Today, FNZ is responsible for more than €1 trillion in assets under administration (AuA) held by around 12 million customers of some of the world’s largest financial institutions.
In total, FNZ partners with over 150 financial institutions globally and employs over 4,000 in Europe, North America and Asia Pacific.
About Fondsdepot Bank
Fondsdepot Bank is a leading platform for trading and holding of funds in Germany, with no product interests of our own. Our partners decide independently how and which products they offer their customers for investment. In doing so, they do not have to worry about us poaching their customers. We focus on neutrality and joint success. This is also the reason why Germany's largest insurance and financial sales companies trust us and work closely with us.
More than 200 sales partners of various sizes rely on our expertise and experience. We have been able to support many of them since our company was founded in 1993 with our services relating to the trading and holding of funds. Our partners can rely on us to master the regulatory framework for the entire value chain. As the largest liability umbrella in Germany, we have a special responsibility in this regard.
We also leverage our in-house expertise - from legal to IT to operations and our own customer care centre. This makes us the only fund platform in Germany that is functionally completely independent.