BNP Paribas Asset Management acquires a majority stake in Gambit Financial Solutions, a leading European provider of robo-advisory investment solutions.
The proposed transaction is subject to permission by the Commission de surveillance du secteur financier and the Commissariat aux assurances of Luxembourg.
BNP Paribas Asset Management (BNPP AM) is adding state-of-the-art digital-advisory services to support and enhance the digitalisation of its distributors through the acquisition of a majority stake in Gambit Financial Solutions (Gambit), in line with its objective to further expand its innovative offerings. Gambit, a well-established Belgian Fintech, has developed a unique capability to significantly transform client journeys with advisory-guided or fully autonomous interfaces. Gambit will maintain its independence, which has led to its success. It will extend its client footprint by becoming the preferred partner for robo-advisory solutions for BNP Paribas Group’s Retail and Wealth Management networks.
The digital revolution has transformed clients’ expectations with regard to discussing their financial savings plans with their investment advisors. This has led to a major rethink of the customer experience across all client segments, and involves constantly adapting to clients’ changing needs. These requirements can now be addressed by optimising the client experience using reliable, user-friendly and adaptable digital interfaces.
Launched in 2007 as a spin-off from HEC – University of Liege by renowned academics, Gambit has successfully developed its expertise in investment advisory solutions and in the digitalisation of customers’ engagement with financial institutions. Gambit has also recently launched Birdee, a proprietary B2C robo-advisor. These solutions, which have regulatory approval, are being rolled-out by a growing number of private and retail banks, asset managers and insurance companies in Belgium, Luxembourg, France and Switzerland. With a team of more than 50, Gambit capitalises on deep-rooted experience in innovative solutions, characterised by a strong educational and intuitive spirit, bringing science-augmented services to investors.
To enhance BNP Paribas’ client journeys, Gambit’s solutions will be leveraged within BNP Paribas’ Retail and Wealth Management networks. These solutions combine engaging advisory-guided or fully autonomous interfaces with an efficient, scalable and modular framework that optimises the power of algorithms and the expertise of investment specialists.
Geoffroy de Schrevel, Chief Executive Officer of Gambit Financial Solutions: “We are proud to have entered into a strategic partnership with BNP Paribas Asset Management, the investment management arm of BNP Paribas. Since the creation of Gambit 10 years ago, our development has been substantial, based on our capacity to deliver innovative solutions in a timely manner. It has enabled us to serve a large number of European financial institutions already. This partnership marks a critical step in our development, with the support of a major financial institution and additional resources to fuel our growth. This will be instrumental for our future development, while allowing us to maintain our autonomy, governance and culture.”
Frédéric Janbon, Chief Executive Officer of BNP Paribas Asset Management: “The partnership with one of the most advanced robo-advisory solutions available in the market is a key milestone in our digital transformation and marks our commitment to delivering quality investment solutions to our clients. Gambit and its management have built an impressive track record and a strong client base, and we are securing the talents that have driven its success. Moreover we bring our asset management expertise and client knowledge to Gambit and this powerful combination will lead us to quickly move along the digital experience curve in this field. This will significantly accelerate the pace of development and enrichment of our customer journey in the area of financial savings.”
Within the framework of this partnership, Gambit Financial Solutions will remain independent from BNP Paribas, keeping its own governance, culture and management unchanged.
Senior management of Gambit Financial Solutions consists of:
Geoffroy de Schrevel, Chief Executive Officer: Since 2009, Geoffroy has led Gambit Financial Solutions from a local university spin-off to a successful European company with global ambitions. Prior to Gambit, Geoffroy worked in several countries for global companies including MasterCard and Swift. He was part of the founding team that established Maestro, the global debit card system now owned by MasterCard.
Laurent Bodson, Chief Operating Officer: Co-founder of Gambit, Laurent has extensive portfolio management expertise and financial risk management experience, both in practice and in academic research. He leads product development at Gambit and delivers a financial modelling course at HEC – University of Liege, where he is also an Associate Professor.
Gaël Minon, Head of Digital Solutions: Gaël has worked at various tech companies acquiring a strong digital experience before joining Gambit in 2008. He is responsible for the digital design and the customer experience of the company’s solutions. In 2015, he was also appointed Head of Birdee to bring to life Gambit’s forward-looking vision on robo-advisory.
Séverine Plunus, Head of Corporate Affairs: Co-founder of Gambit, Séverine manages human resources and company finance. With a PhD in management, she also teaches Investment and Portfolio Management at HEC – University of Liege.
Ken Van Eesbeek, Head of Sales: Ken began his career as a regulatory capital consultant in banking. In 2011, he joined Gambit’s sales team and is now responsible for its global sales. He is closely involved in the development of investment advisory solutions.
About BNP Paribas Asset Management
BNP Paribas Asset Management is the investment management arm of BNP Paribas, one of the world’s major financial institutions. Managing and advising EUR 566 billion in assets as at 30 June 2017, BNP Paribas Asset Management offers a comprehensive range of active, passive and quantitative investment solutions covering a broad spectrum of asset classes and regions. With more than 700 investment professionals and around 600 client servicing specialists, BNP Paribas Asset Management serves individual, corporate and institutional investors in 73 countries around the world. Since 2002, BNP Paribas Asset Management has been a major player in sustainable and responsible investing.
About Gambit Financial Solutions
Gambit Financial Solutions is a Fintech, created in 2007 by a group of scientists at HEC – University of Liege (Belgium). Today, Gambit Financial Solutions has more than fifty employees and is nurturing new talent across four offices in Europe. The company provides investment advisory solutions and risk management tools to financial institutions in France, Belgium, Luxembourg, Switzerland, and is developing globally. In 2016, Gambit launched a fully digital robo-advisor solution that is already used by banks in Belgium and Luxembourg. In 2017, Gambit has received the agreement from the Luxembourg regulator to launch its proprietary robo-advisor – Birdee – directly to retail investors in the European Union. Gambit has received several awards, the latest being the “Disruptive Innovation of the year”, Tech Startup Day Awards 2017.