FNZ focuses in on its wealthtech business with sale of FNZ Bank

FNZ has entered into an agreement to sell FNZ Bank to Advent and a consortium including HarbourVest Partners for an undisclosed amount.

The wealth management platform said the transaction was expected to complete in the second half of 2027, subject to customary regulatory and other approvals.

Following the completion of the sale, FNZ and FNZ Bank plan to continue their partnership, utilising FNZ’s technology capabilities to support the bank’s growth and client offering.

FNZ stated that the divestment was consistent with its strategy of focusing on its core wealth management technology business and serving large financial institutions at scale.

It added that the transaction supported its long-term growth ambitions by reinforcing its position as a global technology platform provider for wealth management firms, including in Germany where FNZ Bank will remain a client.

Barclays Bank, acting through its Investment Bank, acted as the sole financial adviser to FNZ on the sale, while A&O Shearman acted as its legal adviser.

"FNZ Bank has built a strong position serving advisers, asset managers and investors in Germany, and we know the business will continue to thrive under its new ownership,” said FNZ group CEO, Blythe Masters.

“This transaction supports FNZ's sharper focus on its core platform, providing wealth management technology to leading financial institutions.

“We look forward to continuing our relationship with FNZ Bank following completion, leveraging FNZ's technology capabilities to support innovation and growth in the German market."

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