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Global wealth management platform FNZ plans to acquire Germany-based Diamos, a specialist wealth tech provider for the wealth and wealth management industry, for an undisclosed amount.
FNZ acquires Diamos
Diamos operates primarily in Germany, Austria, Switzerland, Liechtenstein and Luxembourg. The acquisition will give FNZ access to additional product and service solutions in fund management and alternative valuation.
Diamos owner and CEO Wilhelm Velten said the partnership will “accelerate the growth trajectory” of his company and that customers will benefit “from FNZ’s global scale and investments.”
Upon completion of the acquisition, FNZ said it will employ more than 1,000 people in the DACH region and more than 5,000 globally, subject to regulatory approval.
FNZ provides clients with personalized services and property products through its platform. Worldwide, he claims to manage over $1.5 trillion in assets for over 20 million investors. Its partners include abrdn, Allianz, Aviva, Barclays, BNP Paribas, Generali and Lloyds.
FNZ has been busy on the acquisition front lately, acquiring private banking technology provider New Access in July. Last year, the client onboarding vendor acquired Appway, German commercial bank Fondsdepot, and in 2020 investment solutions vendor Silica.
In February 2022, it also received a $1.4 billion investment at a valuation of over $20 billion.
