Deloitte’s new acquisition deepens its foothold in Luxembourg’s Asset Management industry

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The consulting firm acquired Alto Advisory’s fintech practice on 1 January 2024, fortifying Deloitte Luxembourg’s fund industry services with fund oversight software.

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08/01/2024 |
  • RAMOS Simon HD

    Simon Ramos, Deloitte’s Fund Depositary Services Leader

Deloitte Luxembourg announced its recent acquisition of Alto Advisory’s fintech practice. The deal includes a suite of fintech solutions, the team behind them, and related business.

"It is exciting news for our clients, prospects and team as the platform offered by Deloitte will accelerate the development of our suite for depositaries, management companies and other fund service providers, offering them further efficiency and de-risking through innovative yet proven digital solutions," says Alto Founder and former CEO, Yoann Jagoury, who has since joined Deloitte Luxembourg.

Since its founding in 2009, Alto has been helping clients perform their fund oversight activities. These services were first established for UCITS funds. However, following the strong growth of Alternative assets in the Asset Management industry, the company further broadened its services to AIF schemes.

According to Simon Ramos, Deloitte’s Fund Depositary Services Leader, “At Deloitte, we strongly believe in technology-enabled solutions and are thrilled to onboard the Alto fintech capabilities in our already very broad set of fund industry solutions.”

Alto’s fund industry products are tailored for management companies and depositaries, offering digital solutions, including regulatory functions support and oversight of fund activities. Since its inception, they have successfully implemented their fund oversight software to tier one players in the market, serving over 10,000 sub-funds and10 fund’ domiciles under the UCITS and AIFMD regulation.

“Deloitte and Alto have a well-established relationship, collaborating on several ongoing consulting projects. 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,” says Xavier Zaegel, Investment Management Leader at Deloitte Luxembourg.

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