Compliance consultancy and RegTech provider Compliancy Services has merged with Portman Compliance, a fellow compliance support service.
As part of the deal, Portman’s portfolio of 150 clients, the majority of which are hedge funds and private equity organisations, will continue to be serviced by the Portman team within the Compliancy Services business.
Portman founder Nancy King will head the new specialist funds division and lead client accounts in the new role of senior managing director.
The merger has doubled the size of Compliancy Services’ specialist funds team and will grow its overall headcount to nearly 60 staff, servicing over 800 clients.
Compliancy Services CEO Philip Naughton said, “With increasingly complex regulation, businesses are seeking multi-sector, specialist partners to guide them, as they grow and develop, through all aspects of their compliance journey.
I have known Nancy for many years, and we share the same values and beliefs when it comes to client services and delivery. By bringing together Compliancy and Portman, we will dramatically increase our specialist capabilities in the funds sector and Nancy’s proven expertise and insights will be a huge asset, as we take our business to the next level.”
This merger is supported by private equity specialists Ethos Partners.
In other RegTech news, ComplyAdvantage has launched a new tool to help anyone verify prospective customers. ComplyTry, which is free to use, lets companies search through real-time sanctions lists, PEPs and adverse media datasets.
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