Canaccord Genuity Wealth Management has signed contracts for Avaloq’s banking suite to realize its future growth plans.
The agreement marks Avaloq’s first deal in the UK with a pure wealth management firm that will join a community of more than 100 major financial institutions worldwide.
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Avaloq said that its banking suite will support on- and offshore operations in London, Guernsey, Jersey, Isle of Man and Switzerland.
Brad Kotush, executive vice president and CFO of Canaccord Genuity Group, said: "Avaloq provides our offshore and onshore wealth management business with enhanced internal support from a single platform.
"This new infrastructure will enable us to expand our business and add scale to our operational capabilities, while delivering first class client service."
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