The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

GTN, State Street Investment Management
Fintech infrastructure firm GTN and State Street Investment Management have partnered to bring risk-aligned model portfolios to banks, neobanks and wealth tech platforms in the Gulf region, they announced yesterday.

Banks, neobanks (digital-only banks), and wealth technology platforms using GTN’s wealth management platform may choose from a suite of model portfolios constructed by State Street IM for use with their own clients. 

The GTN platform automates and digitises portfolio and investment processes.

The partnership covers the Gulf Co-operation Council collection of jurisdictions. 

“The GCC wealth management industry has entered a new phase of digital growth. The region has seen major innovation in digital trading over the past decade,” Damian Bunce, CEO of GTN Middle East, said. “So the next big opportunity is helping banks, neobanks and wealth tech platforms broaden their wealth management offering and extend access to professionally managed portfolios for a broader segment of investors.”

The arrangement joins GTN, which is regulated in a number of jurisdictions, including Singapore, the UK, Dubai and Hong Kong, and State Street IM, a business that has more than $5 trillion in assets managed. (That figure is from 31 March, including exchange-traded funds' AuM.)