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November 15, 2021

Middlemarch taps Convergency Partners to bolster asset management capabilities

By Verdict Staff

New York-headquartered merchant banking firm Middlemarch Partners has partnered with advisory firm Convergency Partners to expand its asset management capabilities.

The strategic partnership will help both firms enhance core competencies linked to strategy, operational design, distribution, capital raising and M&A in financial services.

Both Middlemarch and Convergency are said to share domain expertise in areas including asset management, wealth management, fintech, and next generation finance.

Founded in 2020 by executives from UBS, BlackRock, Citigroup and Morgan Stanley, Convergency help wealth management, asset management and fintech firm enhance their growth, product and partnership strategies.

Middlemarch Partners co-founder Demetris Papademetriou said: “Middlemarch has spent the last decade focusing on helping technology-enabled financial and business services grow through capital raises and M&A advisory support. Our partnership with Convergency Partners deepens these core capabilities.”

Convergency Partners co-founder Jeff Miller said that Middlemarch’s merchant banking expertise will help the firm to support its clients’ accelerated growth plans.

Miller commented: “We are delighted to extend our client relationships through our partnership with Middlemarch. The principals at Middlemarch and Convergency have known each other for 20 years and this partnership builds on that foundation.

“Our association with Middlemarch has already delivered new opportunities for collaboration and valuable insight to both our existing and prospective clients.”

Recent partnerships in the private wealth space

In October this year, Geneva-based Pictet Group signed a wealth management alliance with Bangkok Bank to provide wealth management services for the bank’s wealth clients in Thailand.

The same month, investment technology provider Backstop Solutions Group signed a partnership with BNY Mellon to add its Multi-Asset Class Research Management System (RMS) to BNY Mellon platform.

In September, UK-based fintech firm Wise announced a partnership with US investment manager BlackRock to foray into wealth management space.

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