BNP Paribas Asset Management has acquired a majority stake in a robo-advisory investment firm as it moves forward with its digital transformation strategy.
Established in 2007, Gambit - based in Belgium - has developed an advisory-guided and fully autonomous interface for asset managers, banks and insurance companies.
As part of the acquisition, Gambit will remain independent from BNP Paribas although its services will be used within the bank’s wealth management networks.
BNP Paribas Asset Management’s CEO, Frédéric Janbon, described Gambit as one of the most advanced robo-advisory solutions available to the market.
The move will combine the advisory-guided interface with the bank’s modular framework which currently uses algorithms and investment specialists.
“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,” he said.
Geoffroy de Schrevel, CEO at Gambit, added the partnership with BNP Paribas Asset Management marks a critical step in the firm’s development, with the support of a major financial institution and additional resources.