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Avaloq, BlackRock Agree Wealthtech Pact
The partnership is aimed at wealth management clients in Europe and Asia.
Avaloq and BlackRock have formed a
strategic partnership to take tech solutions for wealth managers
and private banks up a gear. BlackRock is carrying out the pact
via its Aladdin Wealth arm.
Under the deal, BlackRock, overseeing more than $9.09 trillion of
assets under management, is making a minority investment in
Avaloq (the specific size of the stake wasn’t disclosed). Avaloq
is owned by Japan’s NEC. (See
a story here about that move.)
“This collaboration will enable wealth managers and private banks
to enhance their operations throughout the entire client journey,
encompassing onboarding, portfolio construction, client reporting
and risk management,” the firms said in a statement
yesterday.
"Through our relationship with BlackRock and the integration of
their Aladdin Wealth capabilities, Avaloq is further solidifying
our commitment to providing innovative investment technology
solutions for the wealth management industry,” Martin
Greweldinger, co-CEO of Avaloq, said. “This partnership will help
us empower our clients to streamline processes, enhance risk
analytics, and make more informed portfolio decisions, ultimately
delivering greater value to their clients.”
The partnership is aimed at wealth management clients in Europe
and Asia.
The integrated wealthtech platform will benefit the value chain,
such as digital portals that enhance the client experience;
client reporting, onboarding and risk profiling; portfolio
construction and analytics; and data.
Avaloq manages around $4 trillion of client assets via its
systems.