Professional services firm Capgemini acquires Azqore equity from Indosuez Wealth Management.
The 20% stake builds on Capgemini’s existing partnership with Azqore, which focuses on technology outsourcing services and banking transactions for wealth management firms.
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Capgemini said that the collaboration will facilitate the development of Azqore’s proprietary S2i platform and will support its expansion to new services including training and specialised consulting.
The professional services firm intends to support the development of Azqore in Switzerland, Eurozone as well as Asia.
Indosuez CEO Jacques Prost said: “This agreement paves the way for a new phase in the development of Azqore. Wealth management players are facing an increasingly complex regulatory environment and the need to strengthen their operational efficiency.
“The combination of our banking expertise, notably in processing transactions and risk management, with Capgemini’s expertise in digital and technology services, will allow us to deploy effective and innovative solutions. We are confirming our ambition to create a global benchmark in technology and banking transactions for the Wealth Management sector.”
The deal, whose financial terms were not revealed, is expected to be wrapped up by the end of the month.
In this context, Capgemini cited BCG data that anticipates the technology outsourcing and banking transactions market for wealth management firms and private banks to increase by more than 30% by 2020.
Capgemini group executive board member and COO Thierry Delaporte said: “We are thrilled to be taking this new strategic step with Indosuez Wealth Management to consolidate our offer aimed at international clients in the Wealth Management sector.”
