Ocorian Acquires Newgate Compliance

Ocorian Acquires Newgate Compliance

PR Newswire

LONDON, Sept. 29, 2020

LONDON, Sept. 29, 2020 /PRNewswire/ -- Ocorian, a diversified financial services group with four areas of expertise, Fund Services, Corporate Services, Capital Markets and Private Client services, has acquired 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 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 Ocorian's continued strategy to enhance its service offering to best support its clients' needs today and into the future. The acquisition strengthens Ocorian's service offering to asset managers that operate in the regulated UK market: following the acquisition, it will provide end-to-end administration services and a suite of compliance and regulatory services. 

Farah Ballands, CEO at Ocorian 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."

Advisers involved in this transaction included:

For Ocorian:

Legal counsel: White & Case
Financial and tax DD adviser: Mazars
Regulatory DD adviser: Duff & Phelps

For Newgate Compliance:

Legal counsel:  Eversheds Sutherland
Corporate finance advisers: DC Advisory
Accountants: Calder & Co

About Ocorian

Ocorian is a global leader in corporate and fiduciary services, fund administration and capital markets. It has US$260bn in assets under administration and employs 1,250 professionals.

Supporting and protecting global investment is Ocorian's priority; it manages over 17,000 structures on behalf of 8,000 clients including financial institutions, large-scale international organisations and high-net-worth individuals.

Ocorian provides fully compliant, tailored solutions that are individual to clients' needs, no matter where in the world they hold financial interests, or however they are structured.

The group offers a full suite of corporate, fund and private client services across a network of offices spanning all the world's financial hubs. Locations include Bermuda, BVI, Cayman, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Luxembourg, Malta, Mauritius, Netherlands, Singapore, UAE and the UK, as well as a representative office in the US.

To find out more about Ocorian and its services, including regulatory information, visit www.ocorian.com

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