Thierry Delaporte, group executive, board member and chief operating officer, Capgemini

The French professional services firm—Capgemini is planning to buy 20% stake in Azqore, the tech subsidiary of Indosuez Wealth Management to tap into the tech needs of the sector.

Azqore specializes in technology outsourcing services and banking transactions for the wealth management sector as well as mid-sized universal banks. The deal, which is expected to close by end of this month, will help Azqore boost development of its S2i platform while also expand its services in Switzerland, the Eurozone and Asia.

Earlier this year, Capgemini had announced collaboration with Indosuez to develop a technology and banking services platform based on S2i. Indosuez is the wealth management arm of Credit Agricole group.

Thierry Delaporte, group executive, board member and chief operating officer, Capgemini said, “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.”

Jacques Prost, chief executive officer, Indosuez Wealth Management, says, “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.”

Pierre Dulon, chief executive officer, Azqore, said, “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 Credit Agricole, for the benefit of our clients.”

Avatar
by Parnika Sokhi
imp-loader
preloader