We are delighted to announce our acquisition of Newgate Compliance, 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, is subject to regulatory approval.
Newgate Compliance was founded in 2014 by Martin Herriot and Aron Brown. Newgate provides compliance consulting services, leveraging the GATEway, a proprietary software solution that enables clients to track and meet their FCA regulatory obligations efficiently, as well as to comply with the spirit, principles and culture of the UK regulatory regime.
This transaction reflects our continued strategy to enhance our service offering to best support our clients’ needs today and into the future. The acquisition strengthens our service offering to asset managers that operate in the regulated UK market: following the acquisition, we will provide end-to-end administration services and a suite of compliance and regulatory services.
Our CEO, Farah Ballands, said “Our strategy of acquiring the highest quality, independent businesses in key markets has been very successful and continues with the acquisition of Newgate Compliance. Ocorian and Newgate share a single-minded focus on providing outstanding client service whilst building long term client relationships.
It will be business as usual for Newgate’s employees and clients. We are looking forward to working with the founders, Martin Herriot and Aron Brown, as well as the whole team at Newgate to expand our funds offering in the UK.”
The Newgate Compliance business will continue to be led by Martin and Aron who 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.”