Credit Suisse and Allfunds merge fund platforms to create €500bn wealth tech firm

Swiss bank Credit Suisse announced on Tuesday it has combined its open-architecture B2B fund platform InvestLab with Spain-based fund solutions provider Allfunds to create a wealth platform with over €500bn in assets under administration. The agreement, subject to customary closing conditions, would lead to a combined business that would distribute over 78,000 funds and ETFs to more than 700 distributors across 45 countries. Credit Suisse will remain a minority shareholder with a distribution...