Warburg Pincus is to acquire a ~35% shareholding in the transaction that values Avaloq in excess of CHF 1 billion.
The company intends to use the funds to accelerate its long-term growth and value creation strategy, with an investment horizon of 7 years.
Led by founder, Chief Executive Officer and Chairman Francisco Fernandez, and Jürg Hunziker, Deputy Chief Executive Officer and Group CMO, Avaloq provides banks and wealth managers with a core banking software and an international network of BPO centres.
The company’s employs over 2,000 employees (FTEs) in Berlin, Edinburgh, Frankfurt, Hong Kong, Leipzig, London, Lugano, Luxembourg, Madrid, Manila, Nyon, Paris, Singapore, Sydney and Zurich from 66 nationalities, 3 R&D centres in Zurich, Edinburgh and Manila, and 3 BPO centres in Lugano, Singapore and Berlin.
Concurrent with the transaction, Avaloq is creating a European Advisory Board to support the company’s strategic initiatives and growth.
The European Advisory Board will include:
– Jacques Aigrain, former Chief Executive Officer of Swiss Re and Chairman of LCH.Clearnet,
– Stefano Boccadoro, the former General Manager of Cassa Lombarda Bank and Chief Executive Officer of Santander Italy,
– Stefan Krause, former Chief Financial Officer of Deutsche Bank and BMW, and
– Javier Marin, former Chief Executive Officer of Banco Santander.