BNP Paribas has acquired a majority stake in robo-advisory firm Gambit Financial Solutions, as the latter looks to boost its international growth.

The French bank’s asset management arm became has become the majority shareholder and Gambit will become the preferred robo-advisory solutions provider for BNP Paribas Group’s retail and wealth management networks.

Frédéric Janbon, CEO of BNP Paribas Asset Management, said: “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.”

Geoffroy de Schrevel, CEO of Gambit Financial Solutions, added: “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.”

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