Platform engine GBST has relaunched its Composer wealth platform and rebranded to signal a new direction for the business following an aborted attempt to take over the company.
GBST was sold by rival FNZ at the end of 2021 to a private equity firm after the Competition and Markets Authority (CMA) blocked FNZ’s acquisition of GBST.
The CMA ordered FNZ to sell off GBST’s platform arm after concluding that the £150m merger of FNZ and GBST risked reducing competition in the UK platform market.
Although FNZ sold GBST’s platform division it was allowed to reacquire GBST’s capital markets division and the Syn~ product suite.
GBST, based in Sydney and London, describes itself now as a global ‘wealth tech’ company.
It has launched an upgraded SaaS Composer wealth management administration platform alongside the rebrand to showcase a new path for the firm.
GBST says the rebrand reflects the company’s “ongoing commitment to inspiring wealth innovation.”
GBST has preserved its company name and built a new visual identity using the updated ‘backronym’ – Global Business Solutions Technology.
Robert DeDominicis, global CEO of GBST, said, “While our business and solutions have significantly transformed over the past few years, perceptions of the company have not evolved at the same pace. Our new brand successfully communicates who we are today. It honours the hard work by team GBST over the last few years, as well as four decades of industry experience, as we take the company in a new strategic direction.
“We’ve taken the time to look at ourselves from the inside out and have carefully considered how we’ve grown and how we can continue to inspire innovation. I’m incredibly proud to reveal the new GBST brand today, and to launch our new look, newly transformed Composer.”
Following the acquisition by Anchorage Capital Partners in December 2021, GBST is now focused on wealth management technology and services.
Isabel Sanchez, chief technology and operations officer, said: “The world around us has changed, the market has changed, and GBST’s technology has changed. The team have worked tirelessly to deliver a leading SaaS solution that’s cloud-ready, accessible, simple to integrate and keeps the customer first in mind.”
