M and A
Summary Of M&A Deals Wealth Management In EMEA Region – January

A summary of the principal M&A deals involving the industry in January. Several deals that were in the works late last year were completed as the New Year began. The Tiedemann/Alvarium combination was the largest by assets.
France-based Indosuez Wealth Management acquired 70 per cent of
Wealth Dynamix, the London-based fintech founded in 2012 which
provides client lifecycle management solutions to private banks,
wealth management and asset management firms. The financial size
of the stake was not disclosed. The firm’s majority stake deal
extends the collaboration initiated in 2019 between Indosuez, its
subsidiary Azqore, which specialises in outsourcing information
systems and processing banking operations for private banking and
wealth management players, and Wealth Dynamix.
FNZ, the global wealth management platform, agreed to acquire
YieldX, a US-based provider of fixed income portfolio management
technology, optimisation services and direct indexing tools for
the wealth sector. The financial terms of the acquisition were
not disclosed. Founded by Adam Green and Steve Gross in 2019,
YieldX is based in Miami and has an office in New York. It
services clients from top-tier wealth and asset managers, to B2C
financial services and technology providers operating across the
globe.
Saffery Champness, a provider of fiduciary services including
estate planning, wealth protection, investment structuring and
corporate services, completed its acquisition of Holdun Trust,
following regulatory approval from the Cayman Islands Monetary
Authority. The combined business operates as Saffery Trust
(Cayman) Limited.
The boards of directors of Nucleus Clyde Acquisition, a
wholly-owned subsidiary of Nucleus Financial Platforms, agreed a
recommended cash acquisition of Curtis Banks Group. Under the
terms of the acquisition, Curtis Banks shareholders will receive
350 pence in cash for each Curtis Banks share, a 32.1 per cent
premium to the closing price before the offer period starts,
representing a total equity value for Curtis Banks of
approximately £242 million ($289 million) on a fully-diluted
basis. The transaction creates a retirement-focused advisor
platform with approximately £80 billion of assets under
administration.
Tiedemann Group, the US-based multi-family office, wrapped up its
acquisition – first announced in 2021 – of London’s Alvarium
Investments, having finally won shareholder approval in November
2022. The combined company operates as Alvarium Tiedemann
Holdings.