NEC Moves Digital Finance HQ to Zurich to Boost Global Growth

NEC Corporation has announced that it is relocating its Digital Government Digital Finance (DGDF) Headquarters from Tokyo to Zurich, establishing a new Swiss subsidiary. The Zurich-based entity will be fully operational from August 2025 and will serve as the global hub for NEC’s DGDF activities. Tomoki Kubo, Corporate Executive Vice President and President of NEC Corporation’s DGDF Business Unit, will serve as Chief Executive Officer of the new company, while Avaloq Chief Executive Officer Martin Greweldinger will drive NEC’s Digital Finance strategy.

The decision to relocate the headquarters of NEC Corporation’s DGDF Headquarters to Zurich is to manage the DGDF business globally, including strategy planning and execution and to accelerate growth. It underscores Avaloq’s key role in driving NEC’s growth in digital finance globally. As Avaloq’s home market, Switzerland offers a strategic advantage, with its strong finance and technology ecosystem and central location in Europe.  Avaloq’s strong financial performance and commitment to controlled innovation further contributes to NEC Corporation’s DGDF growth strategy.

Since its acquisition by NEC Corporation in 2020, Avaloq has experienced sustained growth in Switzerland and abroad, most recently expanding into the Middle East. This success is underpinned by the close collaboration between the two companies, which has fostered innovation in integration technology, biometrics and artificial intelligence.

This relocation highlights the growing cooperation between Switzerland and Japan and emphasizes Switzerland’s role as a key hub for digital finance and innovation. The relocation includes the transfer of NEC leadership in DGDF from Tokyo to Zurich to establish the new subsidiary, with plans for expansion through local hires.

Martin Greweldinger, Chief Executive Officer at Avaloq: “We are delighted to welcome NEC Corporation to Avaloq’s home market of Switzerland. This move signals NEC Corporation’s strong commitment to Avaloq and our service offering. As we celebrate 40 years in the market and five years as part of NEC Corporation, we look forward to exploring new synergies to drive innovation and deliver exceptional value to our clients.”