Tier1 acquires Satuite to expand CRM business to buy-side

Rick Steves

Tier1 is growing its portfolio of digital transformation and automation solutions in a progressively virtual and technology-reliant industry landscape.

Tier1 Financial Solutions has acquired Satuit Technologies as the provider of CRM, AML compliance, and fraud prevention solutions expands into the buy-side.

Satuit Technologies is specialized in CRM solutions for the asset management community. Its acquisition, which follows a prior deal with Investor Portal, underscores Tier1’s continued commitment to the digitalization of the entire client relationship workflow.

Tier1’s product suite will now expand to include a standalone, cost-effective CRM that is engineered for the needs of buy-side firms.

The firm’s out-of-the box product model now includes buy- and sell-side focused CRM, Investor Portal, KYC, AML, and fraud detection capabilities.

The addition of Satuit CRM and Investor Portal solutions for buy-side Asset Management and Wealth Management complements Tier1’s sell-side CRM platform for Capital Markets and Investment Banking.

Jiro Okochi, CEO of Tier1 Financial Solutions, said: “The addition of Satuit allows us to not only accelerate our expansion into the buy-side with Satuit’s dedicated end-to-end CRM and investor portal solution but also adds to our valuable ecosystem of sell-side banks and corporates. We look forward to investing in the Satuit product and providing an excellent customer experience.”

Karen Maguire, CEO and Founder of Satuit, said: “The asset management CRM industry has been in transition and consolidating for the last several years. This acquisition makes perfect strategic sense with Tier1’s focus on increasing penetration into the buy-side and Satuit’s strong asset and wealth management pedigree. We are excited to join the Tier1 team and look forward to delivering on the many benefits that this acquisition will provide.”

Karen Maguire will continue in her role as CEO of Satuit and will report directly to Jiro Okochi. Tier1’s CRM business will remain independent under the leadership of COO, Manish Patel.

Mr. Patel was appointed COO for the CRM business in February 2021, to be in charge of revenue generation, product management, client engagement, and technology operations.

Prior to that, he was Chief Product Officer, where he guided the CRM roadmap to launch a new packaged product model and accelerated delivery to address broader market demand.

Tier1 has recently integrated Refinitiv’s Equity Ownership data to provide premium, normalized holdings, profiles, and contacts data. Valuable intel on ownership trends and intelligence on investment managers, securities firms, and their key decision-makers.

Tier1 also launched a new pre-packaged delivery model to provide real-time and mobile access to secure, client intelligence, enabling firms of all sizes to build more profitable business relationships.

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