Study shows rise in online stock trading
Online searches for ‘stock trading tips’ and ‘how to start trading’ have increased by more than 200% since 2004 according to recently published data. The research by UK financial services company CMC Markets also shows a rise in searches for stock trading podcasts and is evidence of “an ever-growing interest” in online trading, states CMC […]
Euronext makes €5.5bn indicative offer for Allfunds
Exchange operator Euronext has made an indicative offer to buy B2B wealthtech platform Allfunds for about €5.5 billion in cash and stock. In response to press speculation, both parties have issued statements confirming the takeover offer. Allfunds says the unsolicited bid is for its entire issued and outstanding share capital at a price of €8.75 […]
Swiss prosecutors investigate 2022 Credit Suisse data leak
Swiss prosecutors have launched criminal proceedings aimed at those responsible for the 2022 leak at Credit Suisse which exposed the details of accounts held by wealthy clients allegedly involved in a host of illegal activity. The leak, which happened last February, involved more than 18,000 Credit Suisse accounts, held over decades, and belonging to people […]
Swiss prosecutors investigate 2022 Credit Suisse data leak
Swiss prosecutors have launched criminal proceedings aimed at those responsible for the 2022 leak at Credit Suisse which exposed the details of accounts held by wealthy clients allegedly involved in a host of illegal activity. The leak, which happened last February, involved more than 18,000 Credit Suisse accounts, held over decades, and belonging to people […]
M&G Wealth rolls out hybrid robo advisor
M&G Wealth is rolling out its robo-advisory platform twelve months after taking a stake in tech provider Moneyfarm. Moneyfarm has developed a bespoke investment platform for M&G dubbed &me. ALongside the platform Moneyfarm also supplies product wrappers, asset management capabilities, back office operations and human client consultancy services. Available as an app on both Android […]
Moneyfarm names ex-Virgin Money CEO Dame Jayne-Anne Gadhia chair
UK digital wealth manager Moneyfarm has appointed former Virgin Money CEO and Snoop founder Dame Jayne-Anne Gadhia chair. Gadhia, who led Virgin Money from 2007 to 2018 and is still executive chair of fintech Snoop, was also the UK Government’s Women in Finance Champion between 2016 and 2021. She is also chair of HMRC, a […]
FNZ buys YieldX
Wealth management platform FNZ has made its second acquisition in a week, buying YieldX, a US-based provider of fixed income portfolio management technology, optimisation services and direct indexing tools. Financial terms of the deal were not disclosed. Founded in 2019, Miami-based YieldX serves wealth and asset managers, B2C financial services players and technology providers operating […]
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 […]
Goldman Sachs fintech unit makes $1.2bn loss in nine months
Goldman Sachs’ newly-created “Platform Solutions” unit, which houses the firm’s fintech, credit card and transaction banking operations, made a pre-tax loss of $1.2 billion in the first nine months of 2022. The division, which was created as part of a major reorganisation at the bank last year, also reported a $1.05 billion loss for 2021 […]
ICapital preps tech hiring spree
Alternative investment platform iCapital is boosting its technology team with 100 hires in the US and Portugal. The company, which already boasts 400 technologists among its 1000-plus global team, is on the hunt for software engineers, product managers, and infrastructure developers, working from offices in New York, Greenwich, Connecticut, and Lisbon. Founded in 2013, iCapital […]