BNP Paribas Asset Management has joined the swelling numbers of banks adding robo-advisory solutions to their stable.
BNP Paribas Asset Management BNPP AM made a significant move into the world of robo-advisory acquiring a majority stake in a Belgian robo-adviser, which will become its in-house product for digital retail and wealth management relationships. The terms of the deal were not made public.
Gambit, which is a spin-off from HEC – University of Liege, has rolled out advisory solutions to private and retail banks, asset managers and insurance companies in Belgium, Luxembourg, France and Switzerland.
No Unicorns Here
BNPP AM has plans to expand Gambit’s geographical coverage further which could see the technology heading to Asia.
«The partnership with one of the most advanced robo-advisory solutions available in the market is a key milestone in our digital transformation and marks our commitment to delivering quality investment solutions to our clients,» said BNPP AM chief executive Frédéric Janbon.
While Asia is proving to be a financial technology hotbed, no large acquisition by a global bank or major financial services firm has yet taken place, although strategic partnerships have been established.
