BNP Paribas to acquire stake in wealth tech firm Allfunds

Pedro Gonçalves
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BNP Paribas to acquire stake in wealth tech firm Allfunds

French bank BNP Paribas will buy a 22.5% stake in wealth management company Allfunds as part of a deal to set up a new investment platform with Allfunds. The partnership will allow the firms to develop next-generation fund distribution services, according to an official statement put out by the groups. As part of the deal, for which financial terms were not disclosed, BNP Paribas Securities Services will transfer its Banca Corrispondente local paying agency activities in Italy, as well ...

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