Evolute Group AG

About Evolute Group AG

Evolute Group AG was formed in March 2017 through the merger of SwissComply, a regulatory services provider, and Evolute, a fintech company. This strategic union was driven by the goal of addressing the increasing regulatory demands and technological shifts within the wealth management industry. Michael Hartweg, a co-founder of the derivatives firm Leonteq, was a co-founder of Evolute and later became Chairman of Evolute Group AG. The company established itself as a provider of technology and outsourcing solutions for portfolio and asset management in Switzerland.

The firm's business model focused on delivering a combined RegTech and FinTech offering from a single source. It catered to banks, asset managers, and family offices by providing a platform that integrated comprehensive regulatory services with digital technology for wealth management. The service portfolio included compliance, risk management, IT, and back-office services, inherited from SwissComply since 2013, alongside a hybrid technology for portfolio optimization from Evolute. The platform was designed to cover the entire wealth management value chain, offering either a complete solution or individual modular components. This approach aimed to increase efficiency and reduce costs for clients facing declining margins and evolving regulations.

In December 2020, Evolute Group AG was acquired by Etops, a service and technology provider specializing in data aggregation, operations outsourcing, and reporting. The acquisition was a 100 percent takeover of Evolute Group AG's shares. Following the merger, the combined entity planned to operate under the single brand name Etops. The deal was intended to merge Etops' strengths with Evolute's expertise in cloud-based CRM and portfolio management software, particularly in areas like Know Your Customer (KYC), anti-money laundering regulations, and order management. At the time of the acquisition, the newly integrated company was set to serve over 80 clients with more than CHF 50 billion in assets under management.