FNZ raises $500m to support refreshed strategy – Daily Business

FNZ, the global technology platform serving wealth and asset management businesses, has secured $500 million in equity funding.

Long-term institutional investors have provided the finance which is said to reflect their confidence in the company’s leadership team, growth opportunities and refreshed strategy.

FNZ has built a significant presence in central Edinburgh. Last summer it announced that founder Adrian Durham, was stepping down as chief executive to take a non-executive role.

He was replaced by former JP Morgan executive Blythe Masters, a founding partner of Motive Partners, one of FNZ’s private equity backers. Motive Partners was among investors who committed $1 billion of capital to support its growth plans.

Speaking about the latest round of funding, Ms Masters said: “This new capital will provide the financial strength to support FNZ’s long-term business plan and enduring success with customers.

“The transformation of global wealth management is only just beginning and I’m passionate about FNZ’s role in empowering people to save and invest for the future.”

Gregor Stewart, group chair, said: “Today’s announcement is another endorsement of FNZ, its strategy and the scale of the opportunity ahead, as we continue to partner with leading wealth and asset managers globally to help savers invest for their future.

“I would like to thank our long-standing institutional shareholders for their continued support and partnership, and their renewed commitment to FNZ’s success today. We are strengthening our foundations and investing to support our customers, drive innovation and create enduring value for the long-term.”

FNZ works with about 650 of the world’s leading financial institutions and 12,000 wealth management firms. With more than 6,000 employees in 30 global locations, it administers more than US$1.7 trillion in client assets for 24 million people.