The wealth management arm of Credit Agricole, Indosuez Wealth Management, has acquired a 70% in fintech Wealth Dynamix.
The deal is an extension of the partnership initiated in 2019 between Indosuez, its subsidiary Azqore, and Wealth Dynamix. As a result, Indosuez backing Wealth Dynamix will enable the fintech to accelerate its development and benefit from the group’s scale and stability. Also, it will maintain its independence and agility.
Furthermore, the solutions developed by Wealth Dynamix reinforce the quality of the service offered by user institutions. It does this by contributing to the operational efficiency and personalisation of the relationship between the banker and its client.
In addition, the acquisition boosts Azqore’s position in the outsourced banking services’ market. It also complements its platform in a crucial area of client relationship management.
Jacques Prost, chief executive of Indosuez Wealth Management, said: “This operation, which reinforces Indosuez’s innovation dynamic, will enable Azqore to broaden its offer and strengthen its value proposition, thus contributing to its attractiveness in its market. It will also benefit the development and transformation of all its partners by allowing for more personalisation, digitalisation and autonomy for their clients.”
Gary Linieres, chief executive of Wealth Dynamix, added: “I am delighted that Wealth Dynamix has become part of the Indosuez team. We have been working strategically with Indosuez and Azqore for a number of years. We can now further deepen our relationship. Crucially, this partnership allows us to retain our agility and entrepreneurial spirit whilst simultaneously leveraging the strength an organisation like Indosuez group provides. This will allow us to better service our current and future clients, accelerate the evolution of our products and ultimately provide us greater opportunity for growth.”