As Westpac’s BT platforms sale inches towards indicative bids later this month, there’s some movement in its tech vendor Avaloq’s local team.
Street Talk Oscar Colman
Avaloq’s country head James Land, client solutions architect Jamie Griffiths and technology team’s Chetan Sharma are headed to alternatives platform and IPO hopeful iPartners.
Five-year-old iPartners is like Netwealth or HUB24 but for alternative investments. It raises money for single-asset deals as well as funds in private equity and private debt.
The Avaloq hires are for its platform business, which hosts third-party funds in alternative asset classes. The business had $1.7 billion across its platform including non-bank lending warehouse facilities of $350 million.
Avaloq has been working with BT since 2012, and BT Panorama has used the company for some core banking functionalities like retail superannuation administration since 2017.
The Swiss tech business has more than 2500 employees and is in 30-plus countries.
BT's tech partner Avaloq sheds three from local team - The Australian Financial Review
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