Area served Global Founder Adrian Durham Founded 2002 | AUM Over £50 billion Headquarters Edinburgh | |
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Industry Investment platform technology, Financial Services Number of locations Edinburgh, London, Bristol, Brno, Sydney, Wellington, Melbourne, Hong Kong, Milan Key people Adrian Durham (Group CEO) Locations Edinburgh, London, Bristol, Brno, Sydney, Wellington, Melbourne, Hong Kong, Milan Profiles | ||
FNZ is an investment platform / wrap platform technology provider to major financial institutions in the financial services and wealth management sectors. It provides technology to life insurance companies, banks, asset managers and discretionary wealth managers to deliver wealth management services in the three main distribution channels: independent financial advisers (IFAs), direct customers and the workplace.
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FNZ provides end-to-end technology, including investment front office, tax wrappers and investment back office under a software as a service delivery model. This technology is combined with back office dealing, settlement and administration services as either sub-custodian or third party administrator.
FNZ has delivered investment platform solutions to financial companies in the UK, Hong Kong, Australia and NZ.
History
FNZ was founded as a start-up business in 2002 in New Zealand. Originally created as a business unit within the New Zealand branch of investment bank Credit Suisse, FNZ secured the majority of large institutional providers of investment platforms in NZ. This was followed by the expansion of operations to the UK in 2005, and a management buyout of the First NZ Capital Group (formerly Credit Suisse) in January 2009 for a price of $34 million, backed by private equity firm H.I.G. Capital. In 2012, FNZ moved its corporate headquarters to Edinburgh and global growth equity firm General Atlantic acquired a minority share.
For the 2011 financial year FNZ reported pre-tax profits of £20.7 million, with revenues of £56 million. By April 2013 it had over £35 billion of assets held on its investment platform systems (assets under administration) on behalf of its institutional customers in the UK, Australia and New Zealand. It employs around 1,000 technology and investment operations specialists across Europe and Australasia, primarily in Edinburgh, London, Brno, Sydney and Wellington.
Adrian Durham is Group CEO, Nick Sherry is Chairman ANZ and Lord Leitch was appointed Group Chairman of FNZ in June 2013.
Customers
FNZ’s existing customers include AXA Wealth, JPMorgan Asset Management, Standard Life, Zurich Life, Close Brothers Asset Management, Aviva, HSBC, BNZ, AMP, UBS, NAB, OnePath, Public Trust and First NZ Capital.