Avaloq Wednesday said its chief executive will step down following the acquisition of the Swiss core-banking technology company by NEC of Japan at the end of last year. CEO Juerg Hunziker will step down as CEO on 31 March 2021, the press release said. He joined Avaloq in 2016 and assumed the CEO role in 2018. He will focus on […]

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The acquisition of Zurich-based wealthtech Avaloq by Japanese firm NEC a week ago marked a milestone for both technology companies. Yet it left many with the burning question: Why now? Asian Private Banker has brought together the key events of the past few years, which culminated in the announcement of the CHF 2.05 billion deal. A CHF 1 billion valuation […]

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Avaloq will be acquired by NEC Corporation, a Japanese IT and network technology firm in a deal estimated at CHF 2.05 billion and to be completed by April 2021. Currently, private equity firm Warburg Pincus holds 45% of the Zurich-based wealth tech’s shares. The balance is owned by its founders and employees. Upon completion, NEC will have a 100% stake in […]

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As a demographic deficit approaches certain countries in Europe, Avaloq CEO Juerg Hunziker told Asian Private Banker that banks should democratise their wealth management services to secure the ability to make a profit. Amid private banks’ efforts to make their businesses more “future proof” — both Bank of Singapore and Maybank have launched digital upskilling programmes while Deutsche Bank optimised […]

The post PBs should democratise services, broaden clientele: Avaloq’s CEO appeared first on Asian Private Banker.

Avaloq is seeing increased interest in its outsourcing services from private banks in Asia, the firm’s CEO Jeurg Hunziker has told Asian Private Banker. Hunziker said that Avaloq’s Business Process as a Service (BPaaS) resonates with lenders looking to delegate back-office operations to a third-party specialist to “simplify their target operating model”. “Beyond BPaaS, we can also clearly see a higher […]

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Banks should conduct “many experiments” during their digitalisation journeys, advises Juerg Hunziker, group CEO at Avaloq. At the 11th annual Avaloq Community Conference, Hunziker revealed that his clients are consistently demanding “instant gratification” — a notion unsurprisingly common in the digital age. However, he also highlighted that this demand is paradoxically fulfilled with long-term thinking. “Companies must first have a […]

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