Anchorage Acquires GBST
Anchorage Capital Partners (“ACP”) is pleased to announce it has completed the acquisition of GBST, a leading wealth management administration platform from FNZ.
)
GBST provides financial services technology to the wealth management sector globally with key markets including the UK, Australia and Asia. The company creates vital back, middle, and front-office technology solutions for wealth managers, life and pension companies and fund managers. The business has a blue chip client base which includes major domestic Australian and international banks, and a number of tier 1 global asset managers and life insurance companies. GBST has global operations spanning Australia, the UK and South East Asia, and is the market’s leading wealth management administration platform.
ACP’s investment is focused on GBST’s Wealth Management division, with FNZ to reacquire GBST’s separate Capital Markets division (completion expected Q1 2022).
GBST’s Wealth Management division delivers registry and end-to-end solutions for fund and pension administration, with its flagship product Composer offering an integrated system for wrap platforms, master trusts, superannuation, pensions and wealth managers. Its leading wealth management technology administration platform supports over 5.5 million investor accounts under administration with Direct to Consumer, Advised and Workplace channel solutions for a number of leading institutions. GBST’s business model allows its clients to leverage GBST’s cloud technologies to reduce their internal infrastructure needs, with flexibility to scale processing as they grow.
Incoming GBST Chairman, Phil Cave said, “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.”
“We are impressed with the quality and commitment of GBST’s management team and employees, its market leading technology, and its long-standing relationships with clients and suppliers. We look forward to working with all GBST Wealth Management stakeholders in a partnership that will provide both stability and continued investment to deliver best-in-market solutions for GBST’s current and prospective clients.”
)
)
)
)