Platform engine provider FNZ has today sold off its acquired rival GBST to a private equity firm after the Competition and Markets Authority (CMA) blocked FNZ’s acquisition of GBST.

Wenda Field, former chief sales officer at Intelliflo, has been appointed chief commercial officer UK at platform engine FNZ.

Platform engine FNZ is to acquire client onboarding solution Appway for an undisclosed sum.

Platform engine FNZ must sell its recent acquisition of competitor GBST, but will have the right to repurchase a “narrower package of assets”, according to the final reassessment report from the Competition Markets Authority (CMA).