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Fernandez isn’t short of occupations outside of Avaloq, but the deal guarantees him almost as much job security as he wants. The Japanese software firm would be insane not to keep him on: NEC is a novice in banking software, and thus highly reliant on Fernandez’s 30-year experience in Swiss banking. The new set-up frees up Fernandez, a talented pianist whose car collection includes several Ferrari, to spend more time on his side hustles, which include a Formula 1 gaming simulator and a major Zurich real estate development.

6. Tech's Deep Pockets

Avaloq forms a niche in NEC’s technology universe: the Swiss software firm may benefit from a massive investment by its new owner in digital transformation. Its vision is no less than orchestrating a better future – and it has the financial firepower to do so. NEC spent several billion in an acquisition spree in the last two years, including $1.2 billion for Danish tech firm KMD. It wants to stay active on the M&A hunt and finance future deals from free cash flow.

7. Major Market Awaits

Avaloq won Nomura’s wealth management arm as a client ten years ago – with NEC’s support, it can make further inroads into Japan. This is a coup in itself, as Japan is home to some of the largest and biggest banks in the world (Mizuho, Mitsubishi Tokyo, or Sumitomo). Even if Japan’s significance has shrunk in the last 20 years, its domestic market is still huge (as evidenced by UBS’ partnership with Sumitomo Mitsui Trust last year).