Indosuez Wealth Management wants to reinforce its outsourcing subsidiary Azqore. A consulting firm is stepping in with a cash injection.
The private banking arm of Crédit Agricole and consulting firm Capgemini just relaunched its Lausanne headquarters as Azqore, from Crédit Agricole Private Banking Services previously, in July.
The two are now deepening their five-year partnership, they said in a statement on Thursday. Capgemini will take an 20 percent stake in Azqore for an undisclosed price, the two said. Their ambition is a global benchmark in technology and banking transactions for wealth management.
To do so, Azqore has shifted its business model, now offering software as a service. The company has 30 clients in 11 countries, managing $151 billion. Its proprietary platform offers technology services, an operational back office and consulting services for projects.
