BNP Paribas AM acquires majority stake in robo-adviser

BNP Paribas Asset Management has acquired a majority stake in a Belgian robo-adviser, which will become its go-to product for digital retail and wealth management relationships.

Gambit, a spin-off from HEC – University of Liege, has rolled out advisory solutions to private and retail banks, asset managers and insurance companies in Belgium, Luxembourg, France and Switzerland.

There are plans to expand Gambit’s geographical coverage further although there is no specific timeframe for the UK as yet, a spokesperson from the asset manager says.

Gambit also launched a D2C app for consumers, Birdee, this year for EU retail clients.

BNPP AM chief executive Frédéric Janbon says the company will bring its asset management expertise to Gambit, while securing the fintech business’s talents in the robo-advisory space.

“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.”

In a press statement, BNPP AM says the digital revolution has transformed clients’ expectations with regard to discussing their financial savings plans and that had led to a “major rethink of the customer experience across all client segments”.