Over the past two decades, FNZ has built one of the world’s leading wealth management platforms, supporting the largest financial institutions globally. FNZ plays a critical role in enabling wealth management and investment services at scale, with US$2.5 trillion in Assets on Platform (AoP) and serving 30 million end-investors globally.

As FNZ has expanded, it has made significant investments in technology, capabilities and tailored client solutions to strengthen its market position. However, organisational complexity, bespoke delivery requirements, and a fragmented operating model have increased costs and limited the Group’s ability to realise the benefits of its scale and the strength of its client franchise.

Enhancing client delivery

The Group’s Executive Committee, with the full support of FNZ’s Board, is now accelerating the Transformation Plan to address FNZ’s performance and fulfil the Group’s commitment to serving its clients sustainably with greater operational and commercial discipline.

To do so, FNZ is strengthening how client work is scoped and priced to ensure client commitments are aligned with the resources required to deliver them, strengthening ownership of customer relationships and delivery of market-leading product.

Investment is being directed towards a clear product roadmap and a defined suite of products and capabilities that can be delivered consistently at scale.

Simplifying operations

To support FNZ’s commitment, the Group is reducing its global and regional overheads, narrowing its geographic footprint and reducing headcount.

Together, these measures will reduce complexity and increase cash generation, in turn improving financial performance.

Stephen Welch, Executive Group Chair and Interim CEO, said:

FNZ’s fundamentals are strong and the changes we are making will ensure the Group is a sustainable business for the benefit of all stakeholders.

“By transforming our organisation with the support of our colleagues and clients, we will address the complexity, cost and operational challenges that have come with scale. With greater urgency, we are improving how we operate and focusing our resources more effectively.”

“Our goal is to build a stronger FNZ that delivers consistently for clients, gives us the financial strength to invest for the future and create lasting value.”