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Avaloq, BlackRock Agree Wealthtech Pact
Editorial Staff
15 June 2023
have formed a strategic partnership to take tech solutions for wealth managers and private banks up a gear. BlackRock is carrying out the pact via its Aladdin Wealth arm.
Under the deal, BlackRock, overseeing more than $9.09 trillion of assets under management, is making a minority investment in Avaloq (the specific size of the stake wasn’t disclosed). Avaloq is owned by Japan’s NEC. (See a story here about that move.)
“This collaboration will enable wealth managers and private banks to enhance their operations throughout the entire client journey, encompassing onboarding, portfolio construction, client reporting and risk management,” the firms said in a statement yesterday.
"Through our relationship with BlackRock and the integration of their Aladdin Wealth capabilities, Avaloq is further solidifying our commitment to providing innovative investment technology solutions for the wealth management industry,” Martin Greweldinger, co-CEO of Avaloq, said. “This partnership will help us empower our clients to streamline processes, enhance risk analytics, and make more informed portfolio decisions, ultimately delivering greater value to their clients.”
The partnership is aimed at wealth management clients in Europe and Asia.
The integrated wealthtech platform will benefit the value chain, such as digital portals that enhance the client experience; client reporting, onboarding and risk profiling; portfolio construction and analytics; and data.
Avaloq manages around $4 trillion of client assets via its systems.