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FNZ acquires Germany's Fondsdepot Bank

FNZ acquires Germany's Fondsdepot Bank

Wealth management platform FNZ has acquired German credit institution Fondsdepot Bank.

The acquisition represents a further investment by FNZ in the German market following the previous buy outs of investment platform ebase and specialist wealth tech provider Diamos.

With Fondsdepot bank in the mix, FNZ now employs more than 1,000 people and manages assets of over €120 billion for more than two million customers in Germany. The company provides its expertise and experience to more than 650 partners, including Allianz Global Investors, AXA, BNP Paribas, Generali, Gothaer, comdirect und WWP.

Adrian Durham, group CEO of FNZ, comments: “We are delighted to have successfully completed the acquisition of Fondsdepot Bank, which, together with ebase and Diamos, accelerates our mission to open up wealth by making wealth management more accessible to more people.”

Sebastian Henrichs will continue to be CEO of Fondsdepot Bank - which focusses on processing administrative activities for investment portfolios of large companies - while also leading FNZ Germany. Kai Friedrich will continue to lead ebase as CEO and will be appointed as FNZ’s head of European integration.

The recent spate of acquisitions at FNZ follows a February 2022 $1.4 billion equity funding round that valued the wealth management platform at more than $20 billion.

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