- Acquisition Details:
- Italian banking software provider Objectway has acquired digital wealth solutions provider Nest Wealth based in Toronto, Canada.
- The acquisition amount remains undisclosed.
- Ownership and Offerings:
- Objectway will take control of Nest Wealth’s onboarding, account opening, and financial planning solutions tailored for banks, custodians, and asset managers.
- Client Portfolio:
- Objectway will acquire Nest Wealth’s client portfolio, including wealth management firms such as Raymond James and Manulife Securities.
- Nest Wealth serves half of Canada’s six largest banks, including National Bank of Canada and National Bank Independent Network.
- Market Expansion Strategy:
- Objectway views Canada as one of the top ten most important wealth markets.
- The acquisition aims to establish Objectway’s wealth and investment management offerings in Canada and the USA in an ‘as-a-Service’ capacity.
- Global Impact in EMEA:
- In Europe, the Middle East, and Africa (EMEA), Objectway plans to leverage Nest Wealth’s technology to expand its offerings with digital client onboarding and planning solutions.
- This complements Objectway’s existing services, including advisory, discretionary portfolio management, and back-office services.
- Strategic Milestone:
- Luigi Marciano, founder and group CEO of Objectway, sees the acquisition as “a significant milestone” in the fintech’s expansion strategy.
- Accelerated Expansion:
- Nest Wealth founder and CEO Randy Cass anticipates that the deal with Objectway will “accelerate our expansion across the North American region” and create additional market opportunities in EMEA.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
Popular Categories
Previous article![]( "Can AI do ugly?")
Next article![]( "SME lender FundPark doubles credit facility with Goldman Sachs to $500m")
