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Ocorian completes the acquisition of Bovill

Monday 12 February 2024 13:38 CET | News

Jersey-based provider of financial and corporate administration services and regulatory solutions Ocorian has completed the acquisition of Bovill.

 

his move aims to improve Ocorian's regulatory and compliance capabilities, addressing the increasing demand for regulatory guidance and support from asset managers and financial institutions. Founded in 1999 by Ben Blackett-Ord, Bovill has made a name for itself in the financial services regulatory landscape, serving over 580 clients worldwide with offices in the UK, Singapore, Hong Kong, and the US according to the official press release. With a focus on providing high-quality compliance services, Bovill brings its expertise and global footprint to complement Ocorian's existing regulatory and compliance business, Newgate, based in the UK and Guernsey. 

The combined team, now comprising over 120 professionals globally, will offer a comprehensive suite of regulatory and compliance services across various sectors including fund and asset management, capital markets, wealth, and payments. Leveraging Ocorian's proprietary compliance technology, GATEway, clients will benefit from enhanced support to navigate the evolving regulatory landscape. 

In the official press release, officials from Ocorian emphasised the company's commitment to addressing the complex regulatory challenges faced by clients in key jurisdictions. They expressed enthusiasm about integrating Bovill's capabilities into Ocorian's offerings, aiming to provide clients with tailored solutions to meet their regulatory and compliance needs. 

Bovill officials highlighted the opportunities presented by joining forces with Ocorian, enabling Bovill to extend its services globally and offer clients enhanced expertise and tools such as the GATEway platform. Bovill's achievements over the past 25 years were also brought up, as was the confidence in the company's future within the Ocorian group.

 

Jersey-based provider of financial and corporate administration services and regulatory solutions Ocorian has completed the acquisition of Bovill.

 

Previous developments from Bovill 

In December 2023, KRM22, a provider of risk management software services, announced a new client leveraging Bovill's innovative Market Abuse Surveillance Managed Service. Bovill collaborated with KRM22 to offer a cost-effective and robust solution for compliance with Market Abuse regulation (MAR), integrating comprehensive compliance knowledge with advanced technology. 

According to the company press release, monitoring market abuse poses ongoing challenges for firms, exacerbated by the pandemic and the prevalent remote working environment, which introduce new complexities, particularly regarding insider trading surveillance. 

Bovill initially developed the concept of a managed service for market abuse in collaboration with a client working group. The company highlighted that, while larger institutions have used technology to detect suspected abuse in the past, many firms have lacked the resources to implement such solutions or manage resulting data effectively.


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Keywords: acquisition, merger, regtech, financial services
Categories: Fraud & Financial Crime
Companies: Bovill, Ocorian
Countries: Jersey
This article is part of category

Fraud & Financial Crime

Bovill

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Ocorian

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