The investment platform in landmark Dundee building

Aleading UK provider of retirement solutions has big plans for its recently-acquired Dundee base.

Embark’s presence in the city began with its acquisition of part of Alliance Trust Savings’ (ATS) client books in late 2019.

The former ATS building in West Marketgait has since become the headquarters for both Embark platform and the group.

The Dundee workforce is currently more than 120-strong and growing, while Embark is also involved in creating a financial technology venture studio in Dundee to help support local entrepreneurs.

Peter Docherty is chief executive of Embark – a leading-edge technology platform for corporates and financial advisers.

He said there is a great pool of talent in Dundee, and he wants other financial sector firms to set up operations in the city.

He said: “We gained a highly-skilled, specialist team who could really deliver for our customers.

“We provide a full range of retirement services for independent financial advisers and corporates, such as investment platforms and self-invested personal pensions, with cutting-edge technology at the heart of what we do.

“Being a relatively new player has meant that our technology is at the forefront of the industry, so that we can provide really smart solutions for household names like Natwest, Nutmeg and Charles Stanley.”

Founded in 2013, Embark’s growth has been rapid. Just last May it acquired the Zurich platform for independent financial advisers – rapidly propelling it to be one of the biggest players in UK retirement services.

Scotland and Dundee are now a major part of the Embark story.

Mr Docherty said the country is increasingly being thought of as a European fintech hub and is home to more than 150 high-tech firms – a number that Embark wants to see increase.

He added: “We’re currently in the process of working with our partners, FNZ and Anthemis, to create a dedicated fintech venture studio here in Dundee, with the support of and collaboration with the Scottish Government, Scottish Enterprise and Fintech Scotland.

“One of our major aims is supporting and helping grow a diverse group of talented entrepreneurs in Dundee.

“We are really excited about the potential of this – it’s a way of creating a mutually-beneficial community here, and we’re excited to launch it as soon as we can.”

Beyond this, the impact of Embark on Dundee is easy to see out on the streets, with 400 electrically-powered bicycles carrying its logo.

Last September, the group announced it was sponsoring a new scheme which sees the bikes available for public hire across the city.

The project called Embark Dundee powered by Ride On, is developed and run by Ride On, an international urban mobility company, in partnership with Dundee City Council.

Mr Docherty said: “It was an opportunity to support the local infrastructure of the city, and to demonstrate our long-term commitment to the area.

“What started as the acquisition of ATS has continued to grow and develop, and we are currently recruiting for a number of roles within our Dundee office.”

The Covid-19 pandemic has had no significant impact on Embark operations, as it has full capabilities in place so staff can work remotely.

Mr Docherty said that the virus has led to a heightened focus on delivering on Embark’s core strengths, as well as expanding its horizons.

“We’ve made sure to focus on what really matters during this time.

“We’ve worked hard on the quality and resilience of our services, but more importantly we’ve supported colleagues, old and new, with a massive focus on wellbeing, covering emotional health, work-life balance and nutrition – trying to help everyone as much as we can to get through this difficult period.”

Mr Docherty said that Embark plans to go from strength to strength in the next five years, continuing to stay at the forefront of the industry through more technological innovation.

Peter Docherty, chief executive of Embark Platform.