A prominent international wealth management platform, FNZ recently confirmed that the company has agreed to acquire Diamos AG, the specialized wealth tech provider for the asset and wealth management industry, to expand its presence in the growing German market.
According to the details shared by FNZ, the acquisition will expand the company’s global wealth management platform. The acquisition, which is subject to necessary approvals, will strengthen FNZ’s position in Europe.
FNZ, which is currently administrating more than $1.5 trillion in client assets on its platform, is planning to hire more than 5,000 people globally, including over 1,000 people across the DACH region.
Adrian Durham, the Group CEO of FNZ, said: “We are excited to be making another significant investment in the German wealth management sector and are delighted to partner with the DIAMOS team, given their successful record and deep knowledge of the market. The acquisition of DIAMOS reflects our continued focus on enhancing our client proposition, while bringing our innovative approach and investment to DIAMOS’ strong client base.”
Acquisitions
In the past few months, FNZ has accelerated its acquisition strategy to increase the company’s global reach. In July 2022, FNZ announced a strategic acquisition of New Access, a Swiss private banking technology firm. In February 2022, the wealth management firm received $1.4 billion in new capital.
Wilhelm Velten, the Owner & CEO of Diamos, added: “We are thrilled to be joining FNZ as we continue to transform the industry. In partnership, we will now accelerate the growth trajectory that DIAMOS has achieved by leveraging the strength and global expertise of the FNZ team. DIAMOS’ clients will benefit from FNZ’s global scale and investment. Our employees will be critical to delivering on this ambition, which offers even more exciting long-term career opportunities in the future."
FNZ has partnered with more than 650 large financial institutions around the world.
