A large family office, created by the dynasty involved in the Infosys software business, is the initial client in India of a US family office's tech solutions organisation.

Eton Solutions, which provides cloud-based services for family offices, has launched its enterprise reporting platform, AtlasFive, in India. Last week, it also announced that the launch client is Catamaran, the family office of Infosys’s founder, Narayana Murthy.

The US-headquartered tech firm, created by US multi-family office Eton Advisors about a decade ago, also aims to set up a presence in GIFT City, Gujarat, in the near future, it said in a statement. 

Eton Solutions, which has been present in India for the past five years, has more than 300 employees at its global financial technology centre in Bengaluru.

Catamaran will use Eton Solutions' AtlasFive® platform to streamline its investment portfolio management and enhance operational planning, reporting and compliance, Eton Solutions said.

The platform manages $781 billion for 665 families worldwide. 

“The emergence of India as a financial powerhouse with the third largest concentration of billionaires in the world after China and the USA, fits squarely with Eton Solutions’ international expansion plans,” Satyen Patel, executive chairman of Eton Solutions, said. “India is a critical market within our global growth strategy, and we are bullish about the opportunities in this geography, and about servicing the diaspora internationally from India.” 

In June, Eton Advisors named Tamara Surratt as a member of its leadership team, a few weeks after the MFO named Brian Hughes as president.

Eton Advisors created Eton Solutions almost a decade ago. This entity, its creators say, enables new levels of process efficiency, data accuracy and accessibility, and risk reduction for ultra-high net worth family wealth management offices. Formed in 2015, Eton Solutions moved to the Microsoft Azure cloud in 2020. It covers tasks such as ledgers, bill payments, financial reporting, and CRM systems.

In May last year, Eton Solutions launched what it said was an industry-first Administrative Family Office (AFO)™. This is for ultra-high net worth families, starting from $25 million in assets, offering the same capabilities as large SFOs, the firm said. In September 2023, Eton Solutions opened an office in the United Arab Emirates; it also established an international headquarters in Singapore.

(Separately, Murthy’s daughter, Akshata, is married to former UK prime minister, Rishi Sunak, whose Conservative Party was defeated on the 4 July UK general election. Mrs Sunak, an Indian national, has held the status under UK tax law of a resident non-domiciled person, a fact that caused political controversy in the months ahead of the election. The non-dom regime was scheduled for abolition by the recent Tory government; the new Labour regime also says it wishes to remove the non-dom system and replace it.)