FNZ, capital management platform, acquired YieldX, a provider of fixed-income portfolio management technologies, optimization services, and direct indexing tools.
There is no information about the details of this deal.
YieldX was founded in 2019. The company’s office is located in Miami. The firm specializes in servicing asset managers. Also, the company’s clients are B2C financial services players and technology providers that operate around the world.
FNZ representatives stated that as a result of the merger of the two companies into a single business, financial institutions, consultants and their clients will benefit from a combination of a comprehensive platform with a full range of services and digital infrastructure and YieldX technologies.
The new features will be integrated into the FNZ wealth platform. Customers will be offered a variety of fixed-income solutions around the world.
Algorithms will quickly determine the result of applying specific action algorithms. Clients at the stage of deciding on the use of certain mechanisms will receive an analysis of the consequences of these actions. The platform will determine the expected implementation period of the algorithm and the level of profitability. Users will also be notified of possible risks.
YieldX co-founders Adam Green and Steve Gross will join FNZ as CEO of asset management and head of the asset management strategy, respectively.
Tom Chard, CEO of FNZ in North America, stated that YieldX solutions perfectly complement the company’s existing strengths and further differentiate the offer in the interests of all customers. He also noted that the implementation of the deal will accelerate the growth of the company and expand its presence in the US market. The firm will continue to expand the capabilities of the Global wealth platform, which occupies a leading position in the market.
Earlier this week FNZ acquired the credit institution Fondsdepot Bank. The value of this transaction amounted to $ 1.4 billion. The funds were raised during a round of equity financing last year.
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