FNZ, a global wealth management platform, has completed the sale of financial technology provider GBST to Anchorage Capital Partners, a global private equity fund with financial services and systems experience.
Anchorage Capital Partners’ investment is focused on GBST’s wealth management division and supports GBST’s management team in executing its growth strategy and delivering solutions to clients.
This includes support for the rollout of GBST’s platform solution Composer to current and prospective clients.
Following the transaction, FNZ will reacquire GBST’s capital markets division including the capital markets team and the Syn~ product suite, which provides real-time trade and settlements processing capabilities at a global level.
This will provide FNZ with the opportunity to expand its product and service offering to both existing and future clients and accelerate the growth and reach of its global capabilities in listed securities trading and post-trade processing.
The reacquisition of the capital markets division by FNZ is expected to complete in Q1 2022.
Scott Webster, managing director of FNZ Securities, says: “We’re excited that FNZ and GBST capital markets division are coming together to expand our presence in securities trading and post-trade processing. Capital markets continue to undergo major structural change that will require service providers to renew their systems and processes. This creates a huge opportunity to combine the complementary product strengths of FNZ and GBST’s capital market division.”
Phillip Cave, Anchorage Capital Partners founder and chairman, comments: “We are thrilled to acquire GBST’s wealth management business and are committed to further investment supporting GBST management’s long-term growth plans and future pipeline of opportunities in the UK and Australia for its market leading wealth management administration platform and services.”
