Bancolombia Capital Selects Marstone to Bring Digital Wealth Management Services to Latin American Customer Base as Platform Becomes Multilingual

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Marstone’s Digital Advice offering continues rapid expansion with latest partnership that provides digital wealth to international clients using BlackRock UCITS funds

NEW YORK Marstone, Inc., a leading digital wealth technology firm, today announced it has partnered with Grupo Bancolombia (CIB), the largest bank in Colombia by total assets, and the first Colombian financial institution listed on the New York Stock Exchange (NYSE), to provide its cutting-edge digital investment platform to Bancolombia Capital’s Latin American customers. To frictionlessly provide this product, Marstone is working with BlackRock, Inc. (BLK), a multinational investment firm based in New York City to provide Bancolombia Capital clients with access to select UCITS strategies. To allow for a more seamless customer experience, Marstone’s platform is now multilingual, supporting Bancolombia Capital clients in Spanish as well as English. Clients will now be able to open US-based accounts and invest completely digitally while diversifying their exposure.

“We’re committed to financial inclusivity and part of that work means ensuring our platform meets the needs of international clients seeking to diversify their portfolios and exposure to new assets. Our latest partnership with Bancolombia marks the expansion of Marstone’s digital wealth solutions to Latin American customers,” said Margaret J. Hartigan, co-founder and CEO of Marstone. “Marstone’s platform enables Latin American customers to seamlessly open accounts digitally. We’re excited to ease the adoption of digital wealth management and the valuable strategies we unlock including BlackRock’s UCITS funds.”

Bancolombia has nearly 30,000 employees and a presence in Colombia, as well as Panamá, Guatemala, and El Salvador. With the assistance of Bancolombia’s Miami-based broker dealer, customers will open accounts digitally where the assets will then be invested in model portfolios featuring BlackRock’s UCITS funds.

The model portfolios for this engagement center around BlackRock’s UCITS funds, from which Latin American customers derive greater positive tax treatments when compared to traditional US-traded ETFs. The digital accessibility Marstone provides enables customers to open international accounts online avoiding the difficulty and lag time of manual, paper documentation.

About Marstone

Marstone is a leading digital wealth management platform with a mission to enhance financial literacy, deepen financial inclusion, and humanize finance for all. Its enterprise-ready solution, Powered by Marstone™, enables financial institutions to efficiently and affordably reach, acquire, and retain clients who seek straightforward information and engagement around their finances.

As a proven and trusted technology partner, Marstone has comprehensive integrations with custodians including Pershing, core banking platforms including Fiserv, account aggregation platforms, and investment managers. These integrations, in addition to Marstone’s partnerships with globally recognized foundations including the World Economic Forum Centre for the Fourth Industrial Revolution and leadership participation in the Milken Institute’s FinTech Advisory Committee, provide organizations the opportunity to deploy a technology that will help future-proof their businesses as consumer expectations for digital wealth management evolve.

About Bancolombia

Financial group with 148 years of history, and with a presence in Colombia, Panamá, Guatemala and El Salvador. It offers a portfolio of financial and non-financial products and services to more than 20 million clients. It provides, among others, commercial and consumer banking services, stock brokerage, financial leasing, factoring, trust services, asset management, private banking and investment banking. It has declared to promote economic development to achieve the well-being of all, seeking to positively impact the communities of the countries in which it operates. For more information, please visit https://www.grupobancolombia.com/.

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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