FNZ is a global fintech firm, transforming the way financial institutions serve their wealth management customers. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals.
FNZ’s technology, transaction and custody services enable their clients to provide best-in-class wealth management solutions to financial advisers, end-investors and the workplace that are efficient, flexible, transparent and scalable, supporting market, demographic and regulatory trends worldwide.
Today, FNZ is responsible for over £330 billion in assets under administration (AuA) held by around 5 million customers of some of the world’s largest financial institutions, including Standard Aberdeen, Barclays, Lloyds Bank, Vanguard, Generali, Quilter, Santander, Aviva, Zurich, UOB, UBS, Findex and BNZ.
In total, FNZ partners with over 60 financial institutions globally and employs over 1,400 in London, Edinburgh, Bristol, Basingstoke, Sydney, Melbourne, Wellington, Hong Kong, Singapore, Shanghai and Brno.
FNZ was founded in New Zealand in 2003 by Adrian Durham and FNZC, New Zealand’s leading investment bank and wealth manager.
FNZ then expanded to the UK in 2005, initially partnering with Standard Aberdeen and basing its UK operations & technology headquarters in Edinburgh. The company further expanded into Australia in 2009 and then Asia in 2013.
FNZ was a significant beneficiary of the UK’s global leadership in the consumer regulation of financial advice. The 2013 retail distribution review (RDR) improved fairness, transparency and costs for consumers of financial advice and has been followed around the world, including recently in Europe with the introduction of MiFID2.
To accelerate growth, FNZ partnered in a management buy-out with H.I.G. Capital in 2009. General Atlantic provided additional investment in 2012. It was announced in October 2018 that CDPQ and Generation Investment Management had agreed the acquisition, subject to regulatory approval, of General Atlantic and H.I.G. Capital’s investment in FNZ, in a deal valuing the company at £1.7 billion.
Today, FNZ has over 1,400 employees in the UK, Czech Republic, Shanghai, Singapore, Australia and New Zealand. Around 400 employees are shareholders, who continue to own about one third of the equity of the company.
Having now entered a number of customer’s platforms quickly and successfully into the market, FNZ is recognised as the market-leader for platform capability and service quality.