Financial services group Ocorian has acquired Guernsey-based consultancy Platinum Compliance. The deal, agreed on 2 March, is expected to complete later this month.
Platinum provides compliance consulting services using the Platinum GATEway, a proprietary software solution that enables clients to track and meet their regulatory obligations in Guernsey. The firm was founded in 2017 by Lindsay Fox (pictured).
As a result of the deal, which builds on Ocorian's acquisition of Newgate Compliance in December, the firm will be able to provide end-to-end administration services and compliance and regulatory services in Guernsey.
Frederik van Tuyll, Chairman and CEO at Ocorian, said: “Our clients have a growing need for compliance services and we are looking forward to working with Lindsay and the team at Platinum to expand our funds and regulated client service offering in the Guernsey market.”
Bedell Cristin Guernsey Partnership acted as legal counsel for Ocorian alongside White & Case, while Mazars advised on financial and tax due diligence, and Newgate Compliance acted as regulatory adviser.
Walkers acted as legal counsel for Platinum Compliance.