GBST restructures
Financial services specialist technology provider, GBST Holdings, has undertaken a restructuring which it says reflects its global growth.
The restructure sees the company separated into three business units - GBST Capital markets, based around its Syn platform, GBST Wealth Management, based around the Composer platform and GBST Financial Services which will be a wholesale provider of access to financial products.
In an announcement released on the Australian Securities Exchange (ASX) today, the company said GBST group chief executive and managing director, Stephen Lake had already relocated to Hong Kong to oversee its international expansion, Patrick Salis would take up the new role of group chief operating officer and move from London to Sydney in December.
The announcement said the Denis Orrock would move from Brisbane to London to take up the new position of CEO GBST Capital Markets, also in December.
The company's announcement said its global expansion was continuing and that the North American and Asian markets were considered to offer the best medium-term prospects for Syn, with opportunities currently being pursued in both Canada and the US.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
