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.

Assets on platform engine GBST’s platform solution, Composer, increased by 18% to £180bn in 2021.

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.

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).