Friday, April 23, 2021

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FNZ: Launches US wealth management venture

  • FNZ a global FinTech firm, transforming the way financial institutions serve their wealth management customers
  • FNZ launched FNZ Trust Company, a new US wealth management venture
  • In 2020, FNZ agreed to acquire a majority stake in State Street’s WMS business in the US
  • FNZ Trust Company combines the custody expertise of State Street, which retains a minority interest in the business
  • State Street serves as sub-custodian in respect of all custody assets of the clients that transitioned to the new firm
  • State Street serves as sub-custodian in respect of all custody assets of the clients that have transitioned to the new firm

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