Financial services group Ocorian has acquired Newgate Compliance, a London-based compliance consultancy and hosted regulatory solutions provider for funds clients. The deal is subject to regulatory approval.
Newgate Compliance was founded in 2014 by Martin Herriot and Aron Brown. It provides consulting services using the GATEway proprietary software solution, which enables clients to meet their FCA regulatory obligations and comply with the spirit, principles and culture of the UK regulatory regime.
Ocorian says the acquisition strengthens its service offering to asset managers that operate in the regulated UK market.
Following the transaction, it will provide end-to-end administration services and a suite of compliance and regulatory services.
Ocorian CEO Farah Ballands (pictured) commented: “Ocorian and Newgate share a single-minded focus on 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 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.