Warburg Pincus-backed Aion Bank acquires ETFmatic

Financial Services | International | Mergers & Acquisitions | South East

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Aion Bank, a full service digital bank, today announced the acquisition of ETFmatic.

ETFmatic works with global exchange traded funds (ETFs) to offer a transparent end-to-end service to investors. ETFmatic’s proprietary investment platform and management team will be integrated into Aion’s operations, effective immediately. The deal received approval by the UK’s Financial Conduct Authority (FCA).

Wojciech Sobieraj, CEO of Aion Bank, commented: “ETFmatic has been a great partner since our Belgian launch in March 2020. We were impressed with ETFmatic’s team and technology, and importantly, the company shares our mission to provide consumers with a fully transparent experience, removing the hidden fees and commissions most banks and asset managers charge. We are the bank designed to help our members save and earn more, and portfolio management is a key product as we prepare to expand across Europe.”

Peter Deming, Managing Director and Head of FIG in Europe, Warburg Pincus said: “In today’s very low interest rate environment, Banks must find additional ways to help customers make their savings work hard. Aion Bank has always operated with this mindset, which is why we offered ETFMatic’s low-cost investment portfolios from our launch. We expect ETFMatic to grow into a leading provider in this space as other European banks follow Aion’s lead.”

The acquisition of ETFmatic will allow Aion Bank to develop additional investment products tailored for its members in each country. Additionally, ETFmatic will continue as a stand-alone brand in all markets the company is currently operating, and existing clients’ investments will continue business as usual. Aion Bank plans to grow ETFmatic’s client base in addition to creating synergies with its banking offering. Additionally, Aion plans to further expand ETFmatic’s partner solution across Europe, which makes its platform available as a white-label service.

Johan Hellman, CEO of ETFmatic, added: “When we first partnered with Aion Bank, I was drawn to Aion’s vision to provide consumers with the best in banking and financial products without the unnecessary fees and cross-sell that dominate our industry. ETFs have seen significant growth during the pandemic, and I anticipate investors will continue to look to ETFs as we see market recovery in the quarters to come. I am excited to join the Aion team and introduce more European investors to the potential of ETFs.”

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