Completion of the transaction is expected to occur in the second half of 2027, subject to customary regulatory and other approvals.
The divestment is consistent with FNZ's strategy of focusing on its core wealth management technology business and serving large financial institutions at scale. The transaction supports FNZ's long-term growth ambitions by reinforcing its positioning as a technology platform provider for wealth businesses globally, including in Germany where FNZ Bank remains a key client.
Following completion of the transaction, FNZ and FNZ Bank intend to continue their long-standing partnership, leveraging FNZ's technology capabilities to support the bank's continued growth and client offering.
FNZ will continue to partner with wealth management institutions across continental Europe, including Germany, Switzerland and the Nordics, as they modernise their technology platforms.
Blythe Masters, Group CEO of FNZ, said:
FNZ Bank has built a strong position serving advisers, asset managers and investors in Germany, and we know the business will continue to thrive under its new ownership. This transaction supports FNZ's sharper focus on its core platform, providing wealth management technology to leading financial institutions. We look forward to continuing our relationship with FNZ Bank following completion, leveraging FNZ's technology capabilities to support innovation and growth in the German market.
Barclays Bank PLC, acting through its Investment Bank, acted as Sole Financial Advisor to FNZ. FNZ was advised by A&O Shearman as its Legal Advisor.