BNY and iCapital have announced an alliance to deliver a fully integrated alternative investment offering across BNY Pershing’s Wove platform and BNY’s Alts Bridge. The collaboration aims to streamline advisor access to private markets and alternatives, broadening investment options for wealth managers and their clients.
The integration builds on existing use of iCapital by Pershing clients and introduces a unified experience across both Alts Bridge and Wove. Advisors will be able to manage traditional and alternative holdings within a single platform, supported by iCapital’s suite of investment tools and automated workflows.
“Access for advisors to alternatives and private markets”
Ainslie Simmonds, Executive Platform Owner, Wealth Service Platform for BNY, commented, “Through this alliance, we are helping to unlock access for advisors to alternatives and private markets by delivering a streamlined experience and more comprehensive set of investment options. iCapital with Alts Bridge and Wove will create a user experience that will be unique in the market and continue to help advisors provide the investment solutions their clients are looking for.”
Steve Houston, Managing Director and Co-Head of iCapital Solutions at iCapital, commented, “We’re excited to collaborate with BNY to deliver technology that empowers financial advisors to scale their access to alternative investments. By accessing this integrated solution, clients will have a more automated experience that is more transparent, efficient and easier to manage, and allow advisors to focus on what matters most — helping clients achieve their financial goals with confidence.”
The alliance is expected to support growth for alternative asset managers while offering advisors a more comprehensive digital interface to serve high-net-worth clients and institutions.
iCapital appointed Henrique Francisco as Chief Technology Officer
iCapital recently appointed Henrique Francisco as Chief Technology Officer and Managing Director. He will report to Chairman and CEO Lawrence Calcano and take charge of global technology strategy, infrastructure, and product development across the fintech platform.
Francisco brings over two decades of experience in the investment industry. He most recently held the role of CTO and Managing Director at PineBridge Investments. Before that, he served as Senior Vice President and Head of Distribution and Client Technology at Oppenheimer Funds, and previously spent 17 years at Morgan Stanley, where he led technology for wealth management, alternative investments, and institutional platforms.
iCapital has invested over $700 million since 2013 to build and improve its platform. The firm supports financial professionals with tools and infrastructure for buying, managing, and reporting on non-traditional investments. Its offerings span the iCapital Marketplace, enterprise and data services, and customizable modules to serve a broad range of clients across the private markets ecosystem.
Headquartered in New York, iCapital operates in 16 global offices, including hubs in London, Hong Kong, Singapore, Zurich, Tokyo, and Toronto, with an R&D center in Lisbon. The firm supports more than 2,975 wealth management firms and 112,000 financial professionals, and manages over $918 billion in global volume activity across its platform.
Its reported totals include $232 billion in alternative platform assets, $203 billion in structured investments and annuities, and $483 billion in data reporting assets. The company has received recognition from Euromoney, CNBC, and Forbes for its technology in wealth management and fintech.
