Fundscape CEO Bella Caridade-Ferreira has said FNZ's acquisition of GBST would have given the platform technology provider “too much power”, while another commentator has argued it has eroded the latter's value.
The Competition and Markets Authority (CMA) confirmed its decision to ask FNZ, which was founded in New Zealand and is now based in Edinburgh, Scotland, to sell Australian company GBST on Thursday (5 November). Caridade-Ferreira said this would be the right decision: "FNZ's acquisition of GBST would have given them too much power and control of the UK platform market." FNZ currently provides technology for a number of adviser platforms, including Aviva, Embark, Standard Life's Wrap and Elevate offerings and Advance by Embark - formerly Zurich. Meanwhile, GBST drives the platforms of A...
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