BNP Paribas buys majority stake in robo-advisor Gambit

BNP Paribas buys majority stake in robo-advisor Gambit

BNP Paribas has made a move into the robo-advisory sector, buying a majority stake in Belgian specialist Gambit Financial Solutions. Terms of the deal were not disclosed.

While Gambit will maintain its independence, it will become the preferred partner for robo-advisory solutions for BNP Paribas Group’s retail and wealth management networks.

Launched in 2007 as a spin-off from HEC - University of Liege, Gambit has seen its robo-advisory technology rolled out by private and retail banks in Belgium, Luxembourg, France and Switzerland.

The firm, which has a 50-strong team, has also recently launched a proprietary business-to-consumer robo-advisor called Birdee.

Frédéric Janbon, CEO, BNP Paribas Asset Management, says: "The partnership with one of the most advanced robo-advisory solutions available in the market is a key milestone in our digital transformation and marks our commitment to delivering quality investment solutions to our clients."

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