Ocorian, a financial services group and provider of fund services, corporate services, capital markets and private client services, has completed the acquisition of Newgate Compliance.
Newgate Compliance is a London-based compliance consultancy and hosted regulatory solutions provider for funds clients, including both established and first-time managers.
The deal, which was agreed on 22 September 2020, was subject to regulatory approval.
Newgate provides compliance consulting services, leveraging the GATEway, a proprietary software solution that enables clients to track and meet their financial conduct authority (FCA) regulatory obligations efficiently, as well as to comply with the spirit, principles and culture of the UK regulatory regime.
Ocorian stated that this acquisition reflects its continued strategy to enhance its service offering the “best support its clients’ needs” for the present and future.
The suite of compliance and regulatory services provided by Newgate strengthens Ocorian’s service offering to asset managers that operate in the regulated UK market by enabling Ocorian to provide them with a complete end-to-end administration solution.
Newgate employees will join Ocorian's London team in their London office.
Commenting on the acquisition, Newgate Compliance co-founder, Martin Herriot, said: “This is tremendously exciting for our clients and colleagues. Our clients will benefit from Ocorian’s extensive suite of services across the globe and our employees will be able to take advantage of the broader opportunities that come with being part of a large, multinational enterprise.”
“We are looking forward to being part of Ocorian and to building on the success we have achieved to date,” stated Aron Brown Newgate Compliance co-founder.
