Today saw another example of a strategic investment in the wealthtech space.

BNY Mellon and Lunate, a $50b Abu Dhabi based private equity/alts firm, are teaming up to build-out an entire end-to-end advisor platform from the ground up for the MENA market. And they are going to spend $300mm doing it. It's certainly not the sort of thing you see every day. Building from scratch is a wonderful pleasure. Done correctly, it allows you to harness all that is exciting about the tech advances we have had over the last 10 years. But greenfield tech projects at large companies...