FNZ to Acquire German Leading B2B Bank Fondsdepot Bank

FNZ, the global leader in delivering wealth management services, announced last week that it has agreed to buy Fondsdepot Bank, one of Germany’s leading independent trading and custody platforms, subject to certain regulatory requirements. The deal is expected to close in mid-2022, and financial terms are not disclosed.

Founded in 1993, Fondsdepot Bank is a B2B and B2B2C independent bank with more than two decades of experience connecting fund providers to distributors in Germany. It works with more than 330 fund providers and maintains long-lasting relationships with over 200 distribution partners, offering them simplified access to over 12,000 investment funds and ETFs and the custody of their customers’ portfolios in custody accounts. In addition, it has approximately 500 headcounts, manages more than 1 million investment accounts and over €60 billion in assets under administration.
FNZ provides an integrated technology, transaction and custody platform to wealth managers, banks, insurers, and asset managers in 18 countries across Europe, Asia-Pacific, and North America, enabling digital wealth management for around 12 million investors with around €1 trillion in assets under administration. The acquisition is consistent with FNZ’s strategy in Germany, one of Europe’s largest asset management markets, due to Fondsdepot Bank’s strong customer relationships.

Fondsdepot Bank will remain focused on growing its digital platform whilst maintaining its strong position in Germany, following the closure of the acquisition.