Platform Engine GBST relaunches and rebrands its Composer Wealth Platform, marking a new direction for its business after a failed takeover attempt.
GBST was sold by rival FNZ to a private equity firm in late 2021 after the Competition and Markets Authority (CMA) blocked FNZ’s takeover of GBST.
The CMA has ordered FNZ to sell GBST’s platform division after concluding that a £150m merger between FNZ and GBST risks reducing competition in the UK platform market.
FNZ sold GBST’s platform division, but was allowed to reacquire GBST’s capital markets division and Syn~ product suite.
Based in Sydney and London, GBST now describes itself as a global ‘wealth tech’ company.
The company has launched an upgraded SaaS Composer wealth management management platform along with a rebrand to mark a new path for the company.
GBST said the rebrand reflects the company’s “continued commitment to exciting wealth innovation.”
GBST retained its name and built a new visual identity with an updated ‘backronym’, Global Business Solutions Technology.
GBST Global CEO Robert DeDominicis said: Our new brand better communicates who we are today. It honors Team GBST’s efforts over the past few years and his 40 years of industry experience, and sets the company in a new strategic direction.
“We have taken time to look inside ourselves and carefully consider how we have grown and how we can continue to inspire innovation. , we are very proud to announce the newly transformed Composer with a new look.”
Following its acquisition by Anchorage Capital Partners in December 2021, GBST is now focused on wealth management technology and services.
Chief Technology and Operations Officer Isabel Sanchez said: The team has worked tirelessly to deliver cutting-edge her SaaS solutions that are cloud-ready, accessible, easy to integrate, and customer-first in mind. ”