Wealth management software firm JHC bought by FNZ
Global financial technology company FNZ has acquired platform software provider JHC in a move that creates one of the strongest broking platforms in the UK.
London based JHC provides the core technology platform to: AJ Bell; Alliance Trust Savings; Brooks Macdonald; Charles Stanley; Davy; FIS Platform Securities; Interactive Investor; LGT Vestra and Quilter.
The firm has been independent since launch in 1988 and has half a million users who have assets under management totalling GBP160 billion.
Its software products include JHC Figaro (Figaro), JHC Neon (Neon), and JHC Xenon (Xenon), each designed to work with portfolio management, account administration, regulatory compliance and risk analysis for clients and financial advisers.
FNZ is a global fintech firm, employing 1,600 people and responsible for more than GBP380 billion in assets under administration, held by around seven million customers of some of the world’s largest financial institutions.
Adrian Durham (pictured), chief executive of FNZ, says: “JHC has a market leading and well-established technology platform in the UK, combined with new state-of-the-art digital solutions.”
“We see a great opportunity to not only consolidate our combined position in the UK market, but to take JHC technology propositions into new strategic territories – such as APAC and continental Europe – and into new product areas.”
“JHC’s founders and management team have done a fantastic job in developing a loyal client base of more than 60 financial institutions across all asset classes, currencies and instruments. We look forward to working with their team to maximise the potential of JHC’s business over the coming years.”
John Blackman, chief executive at JHC, says: “Joining forces with FNZ is the perfect way for us to grow our business. It is great news for our clients as FNZ is committed to investing in Figaro, Neon and Xenon and supporting our plans for the future.
“FNZ will support JHC in enhancing and growing our SaaS offerings and gives JHC the opportunity to offer new, broader functionality to our clients.”
“This deal will provide the scale required for JHC to compete in the increasingly competitive fintech world, particularly in wealth management where regulatory compliance and cyber security are of utmost importance.”