(RTTNews) – Lunate and BNY Mellon (BK) said they are investing in a new company, Alpheya, that will develop a customized wealth management technology platform for wealth and asset managers in the Middle East and North Africa. Lunate is a new Abu Dhabi-based, Partner-led global alternative investment management company.
Based in the Abu Dhabi Global Market, Alpheya is expected to start serving clients in 2024. BNY Mellon has a minority share in Alpheya.
BNY Mellon said the new financial technology company will meet the growing demand in the Middle East from wealth and asset managers, private banks, and investment houses, for an end-to-end digital solution that delivers a range of services, including client onboarding, financial planning, portfolio construction, trading and rebalancing, risk management reporting, and analytics.