$633 Billion UK Asset Manager Abrdn & Wealth Platform FNZ Form Strategic Partnership to Launch New Digital Wealth Platform for Asia Starting with the Singapore Market, New Digital Wealth Platform to Help Financial Advisors Execute Investment Advice More Efficiently & Lower Cost Including Managing Discretionary Portfolio & Self-Directed Solutions, New Platform to Support Independent Financial Advisory Firms, Insurance Companies, Banks, Virtual Banks, Family Offices
9th May 2024 | Hong Kong
UK asset manager Abrdn with $633 billion AUM (Assets under Management) & wealth platform FNZ have formed a strategic partnership to launch a new digital wealth platform for Asia starting with the Singapore market. The new digital wealth platform will help financial advisors execute investment advice more efficiently & at a lower cost including managing discretionary portfolio & self-directed solutions. The new platform will support independent financial advisory firms, insurance companies, banks, virtual banks, family offices. Announcement (2/5/24): “abrdn, a global investment company, and FNZ, a leading global wealth management platform, are pleased to announce a strategic partnership in Asia that begins with the launch of a multi-distributor, open architecture, digital wealth platform for Asia, beginning with the Singapore market. The new digital wealth platform will support independent financial advisory firms, banks, virtual banks, family-offices and insurance companies in the Asia region. The platform will help financial advisers to execute high quality investment advice more efficiently and at a lower cost, resulting in better investment outcomes for their underlying clients. The platform will be capable of both discretionary portfolio management and self-directed solutions both through the advisor and/or client portals as well as standardised wealth APIs (i.e. Application Programming Interfaces) with further innovations to follow. abrdn and FNZ have successfully partnered in the UK since 2005, developing a state-of-the-art platform for financial advisers that has grown to £75.2 billion assets under administration (AUA) making it one of the leading platforms in the UK. The platform provides financial planning solutions and technology for UK financial advisers, enabling them to create value for their businesses and their clients. It offers a combination of tools and services personalised to their needs, including access to the investment solutions that abrdn offers as well as a wide range of open architecture investment options. Asia ex-Japan is anticipated to surpass the US in terms of financial wealth by 2025, and the number of millionaires across the continent is expected to more than double by the end of the decade – increasing from approximately 30 million to over 76 million . This significant growth presents an immense business opportunity for cutting-edge technology solutions in the wealth management sector, catering to the scalable needs of financial intermediaries.”
“ $633 Billion UK Asset Manager Abrdn & Wealth Platform FNZ Form Strategic Partnership to Launch New Digital Wealth Platform for Asia Starting with the Singapore Market, New Digital Wealth Platform to Help Financial Advisors Execute Investment Advice More Efficiently & Lower Cost Including Managing Discretionary Portfolio & Self-Directed Solutions, New Platform to Support Independent Financial Advisory Firms, Insurance Companies, Banks, Virtual Banks, Family Offices “
Rene Buehlmann, Global CEO of Investments & Head of Asia Pacific, abrdn: “Following the success of our UK adviser platform, we are delighted to be working with FNZ to launch a platform business in Asia that we believe will make a positive difference to the investment processes and investment outcomes for financial advisers and their underlying clients. Asia is a key market for us and we are committed to delivering solutions that meet the evolving needs of investors in the region.”
Tim Neville, CEO Asia Pacific, FNZ: “We are very excited to be building on our long-term relationship with abrdn to establish a multi-distributor wealth platform in Asia. This is the first genuine multi-channel wealth platform in the region, specifically tailored to meet the diverse requirements of the Asian markets.”
$620 Billion UK Asset Manager Abrdn Closed More than 120 Funds Since 2022, Cut 10% of Global Workforce to Save $191 Million
11th April 2024 – UK asset manager Abrdn with $620 billion AUM (£495 billion, Assets under Management) has closed more than 120 funds since 2022. In January 2024, Abrdn had announced to cut around 10% of employees to save $191 million. In October 2023, Abrdn announced to sell the European private equity business with £7.5 billion assets for £60 million, having recently sold United States private equity & venture capital business with £4 billion assets to Highvista Strategies. Stephen Bird, abrdn’s CEO:” The sale of our European private equity business to Patria Investments closely follows the completion of the sale of our US private equity division to HighVista Strategies. This latest transaction underscores our commitment to reshaping our investments business, aligning with our earlier guidance. We are dedicated to simplifying our operations and focusing on areas where we anticipate robust growth in the future.” In May 2023, UK asset manager Abdrn appointed Co-CEO Investments René Buehlmann as the sole CEO Investments.
$620 Billion UK Asset Manager Abrdn Closed More than 120 Funds Since 2022, Cut 10% of Global Workforce to Save $191 Million
24th January 2024 – UK asset manager Abrdn with $479 billion AUM (GBP 377 billion, Assets under Management) has announced to cut around 10% employees representing around 10% of global workforce to save $191 million. In October 2023, Abrdn announced to sell the European private equity business with £7.5 billion assets for £60 million, having recently sold United States private equity & venture capital business with £4 billion assets to Highvista Strategies. Stephen Bird, abrdn’s CEO:” The sale of our European private equity business to Patria Investments closely follows the completion of the sale of our US private equity division to HighVista Strategies. This latest transaction underscores our commitment to reshaping our investments business, aligning with our earlier guidance. We are dedicated to simplifying our operations and focusing on areas where we anticipate robust growth in the future.” In May 2023, UK asset manager Abdrn with $630 billion (£500 billion) AUM (Assets under Management) appointed Co-CEO Investments René Buehlmann as the sole CEO Investments. More info below:
$495 Billion UK Asset Manager Abrdn to Sell European Private Equity Business with £7.5 Billion Assets for £60 Million, Recently Sold United States Private Equity & Venture Capital Business with £4 Billion Assets to HighVista Strategies
21st October 2023 – UK asset manager Abrdn with $495 billion AUM has announced to sell the European private equity business with £7.5 billion assets for £60 million, having recently sold United States private equity & venture capital business with £4 billion assets to Highvista Strategies. Stephen Bird, abrdn’s CEO:” The sale of our European private equity business to Patria Investments closely follows the completion of the sale of our US private equity division to HighVista Strategies. This latest transaction underscores our commitment to reshaping our investments business, aligning with our earlier guidance. We are dedicated to simplifying our operations and focusing on areas where we anticipate robust growth in the future.” In May 2023, UK asset manager Abdrn with $630 billion (£500 billion) AUM (Assets under Management) appointed Co-CEO Investments René Buehlmann as the sole CEO Investments. More info below:
$630 Billion UK Asset Manager Abdrn Appoints René Buehlmann as CEO Investments with Co-CEO Chris Demetriou Leaving Abdrn after 9 Years, René Buehlmann is 29 Years UBS Veteran Including as UBS Head of Asset Management APAC
11th May 2023 – UK asset manager Abdrn with $630 billion (£500 billion) AUM (Assets under Management) has appointed Co-CEO Investments René Buehlmann as the sole CEO Investments. Abdrn Co-CEO Investments Chris Demetriou who is Abdrn CEO Investments (UK, EMEA & Americas), will be leaving Abdrn after 9 years (2014). René Buehlmann had joined Abdrn in 2021 from UBS, spending 29 years at UBS holding several senior leadership roles including UBS Head of Asset Management APAC, Global Head of Investment Funds, Head of Investment Products & Services Hong Kong, Head of Lending Products Americas.
Abdrn CEO Investments, René Buehlmann
René leads our business across Asia Pacific and joined in March 2021. He has deep experience of leadership roles in global financial markets, including in corporate banking, wealth and asset management.
Before his appointment, René spent 29 years at UBS. Between 2014 and 2019 he was Head of Asset Management Asia Pacific and part of the regional UBS Group Executive Committee. He was responsible for managing and developing the business across segments and distribution channels, as well as ensuring engagement with clients, regulators, industry bodies and key stakeholders. In addition he was managing and developing the global Wholesale business strategy.
He moved to Asia in 2005 to support UBS Wealth Management’s expansion in the region, heading a number of leadership roles – including Global Head of Investment Funds and Head of Investment Products & Services Hong Kong. In addition to his experience in Asia, he also spent four years in New York as Head of Lending Products Americas before taking on the functional responsibility for UBS Wealth Management’s lending products across all of its global locations out of Zurich.
About abrdn
Abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors. Abrdn manages and administers £500bn of assets for clients (as at 31 December 2022). Our strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and Personal – focused on their changing needs. The capabilities in our Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge. Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs. As at 31 December 2022, our Investments business manages £376bn on behalf of clients – including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.
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