Shard Capital Buys Into Omnium

23 Sep 2021 | 10.52 am

Shard Capital Buys Into Omnium

Digital platform demand is ‘through the roof’

23 Sep 2021 | 10.52 am

London wealth manager Shard Capital is to take a 50% stake in Dublin-based investment tech platform Omnium, subject to regulatory approval.

According to Shard, the Sandyford business “is among the most innovative and comprehensive investment platforms in the domestic market, providing a transparent partnership model to intermediaries, trustees, brokers and wealth managers”.

“The platform aggregates multiple asset classes in one place, providing straight-through processing and digital signatures, increasing transparency and reducing the cost of investing to the end investor,” it said.

Omnium chief executive Christopher Ovenden commented: “The demand for our digital platform has shot through the roof in the last 12 months, where we have seen five years of digital transformation take place in one year.

“By working with Shard Capital, we will be able to accelerate our enhanced offering to clients in Ireland and the EU, as well as extend the range of services we provide. Shard’s stellar reputation for excellence in client servicing fits in with our own commitment to providing the highest quality of service, and with access to their experienced, market-leading team, Omnium is ideally placed to accelerate our ambitious growth plans in the near future.”

Shard chief executive Toby Raincock (pictured) added: “Shard Capital and Omnium are both client-focused, solutions-led businesses and our combined entrepreneurial spirit and agility will ensure we are well-placed to create innovative solutions for clients.

“Shard and Omnium’s partnership represents a fantastic opportunity for expansion for both organisations and provides us with the ideal platform to expand our offering across Ireland and the EU27.”

Omnium’s accounts filing shows end 2019 net assets of €323,000. Omnium is one of the trading names of Naperte DAC, incorporated in May 2014.

Shard manages over €1.17 billion in assets and employs 75 specialists in Britain and abroad. No financial details of the investment were disclosed.

Raincock joined Omnium’s board in June 2021.

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