Thursday, 12 July 2018 10:06

FNZ buys German platform as expansion ramps up

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Major platform provider FNZ has acquired the German platform ebase as part of its plan to be the leading provider of B2B wealth management platforms in Europe.

In the UK FNZ powers platforms from Standard Life, Barclays, Aviva, Old Mutual Wealth, and Zurich.  FNZ employs more than 450 people in the UK, including 300 in Edinburgh.

FNZ Group will acquire 100% of German investment platform ebase from Comdirect Bank AG for an undisclosed sum, subject to regulatory approval.

Adrian Durham, chief executive of FNZ Group said: “ebase is a well-established investment platform and leader in the digitisation of wealth management solutions. We look forward to partnering with the highly capable ebase team to grow their business in Germany.”

“This is an important milestone for FNZ Group and underlines our commitment to being the leader in the provision of B2B digital wealth management solutions for financial institutions and their clients in Germany and across Europe.”

Founded in 2002 as part of ADIG Investment GmbH, ebase has been an independent and fully licensed platform and a subsidiary of comdirect bank AG since its purchase in 2009.

With 265 employees, more than one million customers and more than 270 co-operation partners – including banks, insurance companies, asset managers and independent financial intermediaries – ebase is a leading business-to-business direct platform in Germany, with assets under administration (AuA) of around £27.4bn.

Under FNZ Group’s ownership, ebase will continue with its strategy to become the leading digital financial services partner in Germany, through sustained investment in technology and customer service. Current managing directors Rudolf Geyer and Lars Müller-Lambrecht will continue to lead the company from its headquarters in Aschheim, near Munich.

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