Ocorian acquires Newgate Compliance
Ocorian, a diversified financial services group and provider of 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, which was agreed on 22 September 2020 was 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.
The acquisition reflects Ocorian’s continued strategy to enhance its service offering to best support its clients’ needs today and into the 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 office at 20 Fenchurch Street.
Herriot and Brown say: “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.