Flanks appoints Nawaz Mucadam to lead UK & MEA push
Flanks has appointed Nawaz Mucadam as Country Manager for the UK, Ireland and the Middle East as the wealth data specialist steps up its push in the UK market.
Mucadam joins from InvestCloud, where he led European sales. He has more than 20 years of experience across wealthtech, institutional sales and financial services.
The role spans three regions seeing greater focus on data, reporting and oversight in wealth management. In the UK, firms have faced increased scrutiny of customer outcomes under Consumer Duty, alongside broader expectations to evidence suitability and service standards.
Wealth managers also face practical challenges when client assets sit across multiple wrappers and jurisdictions. These can include pensions, ISAs, property, business interests and investments held away from a firm's main custody platform. Consolidating holdings into a single view often means matching inconsistent data formats and transaction descriptions across providers.
UK market focus
Mucadam will lead Flanks' UK expansion, build local client relationships and strengthen partnerships. He will also establish a dedicated team in the market. His remit covers wealth managers, private banks, multi-family offices, pension plan providers and platforms managing cross-border portfolios.
He previously co-founded Zugo, described as an AI-powered SaaS platform designed to help close the UK's advice gap. He then spent five years at InvestCloud.
In comments accompanying the appointment, Mucadam linked the adoption of digital advice tools with continuing gaps in wealth firms' data infrastructure.
"UK institutions are ready for modern wealthtech, but only if it's built on secure, compliant data foundations," said Nawaz Mucadam, Country Manager for the UK, Ireland and the Middle East at Flanks. "The industry has rushed to adopt digital advice tools while ignoring the broken data layer beneath them. You can't deliver AI-driven insights or holistic suitability assessments when client wealth data is scattered across fifteen different systems. Flanks is fixing the plumbing that makes everything else work - and the team's rare blend of technology and wealth management expertise makes it exactly the right place to do it, in a market that desperately needs it."
Data aggregation
Flanks runs a data aggregation platform for wealth managers and other financial institutions. It processes more than 500,000 portfolios a month through more than 600 connections with financial institutions across 33 countries. It also processes €39 billion monthly.
The platform uses multiple methods to collect and normalise data, including APIs, credential-based access and report ingestion. It applies AI to categorise transactions and standardise inconsistent banking terms, aiming to produce cleaned and enriched data across asset classes.
A key sector challenge is the long tail of formats and labels used by banks and platforms. Transaction narratives often differ by provider, and categories can vary even for similar products. Many firms also run a mix of modern and legacy systems, which can make data governance and reporting harder during digital change programmes.
Flanks also supports data for asset classes that can sit outside mainstream aggregation tools, including alternatives. Wealth managers have increasingly used private markets and structured products, adding complexity around reporting and valuations.
Exchange protocol
In January 2026, Flanks launched EDX (European Data Exchange) with finReg360, describing it as a standardised protocol for financial data exchange between custodian banks, wealth managers and advisory firms.
Flanks is regulated as an Account Information Service Provider by the Bank of Spain under the oversight of the European Central Bank. It serves more than 100 financial institutions across Europe and the Middle East, including tier-1 banks and multi-family offices.
Flanks raised €14 million in an equity round in February 2025. It has also been included in the Financial Times and Statista FT 1000 list of Europe's fastest-growing companies.
Regional remit
Flanks is positioning the appointment as part of a broader expansion across the UK, Ireland and the Middle East. Cross-border wealth is a significant feature of all three regions, including international client bases, offshore structures and multi-custodian portfolios.
Chief executive Joaquim de la Cruz said the UK is a priority market and linked Consumer Duty to the need for more complete data across a client's finances.
"The UK is Europe's largest wealth management market, and Consumer Duty has made comprehensive data infrastructure non-negotiable," said Joaquim de la Cruz, CEO of Flanks. "Firms winning mandates are those that can prove they understand total client wealth, not just the assets they custody. Nawaz understands both the operational reality of running wealth institutions and why premium data must precede AI and future-proof innovation. I look forward to having him lead our expansion across the UK, Ireland, and the Middle East - where we're seeing a similar trend."