Deloitte Luxembourg on Monday said it has acquired the fintech practice of Alto Advisory for an undisclosed amount per 1 January 2024. Alto offers software services for depositaries, transfer agents and fund managers.
Yoan Jagoury (photo), Alto founder and its former CEO, has since joined Deloitte Luxembourg as a director.
The translation will strengthen the consulting firm’s fund services unit with fund oversight software, the consultancy said. The deal includes a suite of fintech solutions, the team behind them, and related business.
Simon Ramos, Deloitte’s fund depositary services leader underlined the firm’s belief in technology-enabled solutions. Deloitte is “thrilled to onboard the Alto fintech capabilities in our already very broad set of fund industry solutions,” he said in a statement.
“Deloitte and Alto have a well-established relationship, collaborating on several ongoing consulting projects,” Xavier Zaegel, investment management leader at Deloitte Luxembourg said in a statement. “As such, we anticipate a smooth integration that will not only quickly strengthen our existing service offerings, but also our capacity for the client-centric innovation we are known for.”
Alto is based in Hesperange, Luxembourg and was first registered as a limited liability company in 2009.