05 October 2018, India:
Indosuez Wealth Management, and Capgemini, announced Capgemini’s acquisition of a 20% stake in Azqore, Indosuez’s subsidiary specializing in technology outsourcing services and banking transactions for the wealth management sector.
The transaction should be completed by the end of the month.
“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,” said Jacques Prost, Chief Executive Officer, Indosuez Wealth Management.
“Capgemini has demonstrated its leadership in creating value for its clients and enabling both productivity and digital transformation on a global scale. 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,” said Thierry Delaporte, Group Executive Board Member and Chief Operating Officer, Capgemini.
“We believe that digital innovation will fundamentally transform the Wealth Management sector. Azqore now offers a unique approach and expertise drawing on the capabilities and constant innovation of Capgemini and Crédit Agricole, for the benefit of our clients,” said Pierre Dulon, Chief Executive Officer of Azqore.
Capgemini’s investment in Azqore will enable the company to accelerate the functional and technological development of its proprietary S2i platform, while expanding its offering for customers to new services such as training and specialized consulting. Azqore will draw on the market leading expertise of Capgemini to enable a wide range of digital solutions and support wealth management players in their transformation. Capgemini will also contribute to the development of Azqore in Switzerland, the Eurozone and Asia, by drawing on its global network of 200,000 employees, the company sad in statement.
Indosuez Wealth Management is the global wealth management brand of Crédit Agricole group.
Azqore strengthens the operational efficiency of private banks and wealth management companies while supporting their efforts to ensure compliance with changing regulations. With more than 25 years’ experience, the company offers its services to 30 clients in 11 countries via its three locations (Geneva, Lausanne and Singapore), and manages assets totalling CHF 150 billion.
(Image – Capgemini)