UK-based financial services company FNZ has raised $650m in new equity from existing institutional shareholders and client investors. The funding will support its long-term business plan and operations. Major investors include La Caisse, Generation Investment Management, CPP Investments, and Motive Partners, with clients like Aberdeen Group and Aviva participating. CEO Blythe Masters sees huge opportunities ahead with this capital injection. The company plans to use the funds to support its credit ratings, invest in technology, people, and products, and pursue sustainable growth. FNZ recently partnered with Microsoft to launch products utilizing its in-house AI to enhance financial advisers’ productivity. This collaboration combines FNZ’s wealth management expertise with Microsoft’s AI capabilities and cloud infrastructure. The company has completed a Section 166 review and VREQ in the UK, strengthening governance, delivery, risk management, and operational frameworks. FNZ has also extended its technology partnership with AJ Bell, a UK-based investment platform, for another decade. The collaboration, which began in 2009, will see FNZ continue to provide essential technology for AJ Bell’s platform.

Read more at Yahoo Finance: FNZ raises $650m from existing institutional shareholders