M and A
Wealth Industry Think Tank In M&A Tie-Up
An international firm publishing reports on the technologies buffeting wealth management has itself been taken over by a consultancy.
US-based consultancy firm Cutter Associates
has acquired the Swiss firm MyPrivateBanking
Research, a business that in recent years has issued scores
of reports scrutinising how well – or not – banks and wealth
managers have embraced new technologies such as artificial
intelligence and mobile devices.
The terms of the acquisition were not disclosed.
MyPrivateBanking’s research and content library “will be absorbed
into Cutter Associates’ wealth management research and insights”,
Cutter Associates said in a statement.
This publication has contacted both firms about the deal to
clarify details, such as whether any jobs will be affected and is
due to interview Cutter today on developments.
“The wealth management industry, as across most of the financial
services landscape, is changing significantly through innovation
and other market forces. Due to new global regulation, the rise
of fintech, the generational wealth transfer, digital disruption,
and ongoing risks like cyber-security, the landscape has become
more complicated to navigate. Wealth managers are looking for
clear research, analysis, benchmarking and insights that help
them navigate these rapid changes and implement the right
technology to exceed their customers’ expectations,” Cutter
Associates said.
Earlier this year the firm launched Cutter Wealth to focus on
wealth firms’ technology – buying the Zurich-based organisation
accelerates that process. The Cutter Wealth team is led by Gina
McCafferty, who previously worked at SS&C Technologies and
FIS.
Cutter Associates, founded in 1998, provides investment
operations' research and consulting services to the world’s
largest asset managers, insurance companies, pensions,
endowments, and asset servicers. The firm is based in Hingham,
Massachusetts, and operates subsidiaries in Canada and the UK.
Examples of exclusive stories about the firm's research by this publication can be seen here and here.