Global wealth management platform FNZ said the takeover of GBST’s capital markets division would allow it to expand its product and service offering to existing and future clients, and accelerate growth and scope of its global listed securities trading and post-trade processing capabilities.
Edinburgh fintech FNZ takes on software company
The reacquisition of the capital markets division by FNZ is expected to be finalized in the first quarter of 2022.
Scott Webster, Managing Director of FNZ Securities, said: “We are delighted that the Capital Markets division of FNZ and GBST are teaming up to expand our presence in securities trading and post-trade processing. Capital markets continue to undergo major structural changes 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 the capital markets division of GBST.
GBST Managing Director Rob DeDominicis said: “This is a key milestone for GBST… We are delighted to have Anchorage’s support to continue our growth, including expansion into key markets. existing ones such as the UK and Australia. “
FNZ, led by CEO Adrian Durham, serves wealth managers, banks, insurers and asset managers in 18 countries, with more than $ 1.5 trillion (£ 1.1 billion) in assets under administration.