Apex Acquires Praesidium Bolstering Compliance Solutions

The deal, which closes today, adds further weight to the Group’s corporate solutions business following two recent announcements around the expansion of its subsidiary, Throgmorton, into the UAE in addition to the establishment of a Throgmorton Compliance Solutions arm.

The merging of the Praesidium practice into the Group’s compliance arm adds clients across DIFC, ADGM, Singapore, London, US, and Switzerland across a range of verticals including asset managers, family offices, government entities, financial institutions, law firms and individuals.

Praesidium founder, Hari Bhambra, will take up the position of Global Head of Compliance Solutions further bolstering the Group’s existing high calibre compliance talent Melanie Scotland and Julie Ferguson, who jointly lead the Throgmorton Compliance Solutions business in the UK. Bhambra is a seasoned professional with 20 years’ experience in financial services and has been part of two regulatory development projects (UK FSA (predecessor of the FCA) and DIFC DFSA).

Praesidium’s robust risk and advisory solution has been servicing clients in the DIFC for several years and complements Apex’s position as a trusted local provider in the Middle East; as the first administrator in the DIFC in 2006 and the first to receive official approval and licensing from the FSRA of AGDM in 2017.

Apex has been demonstrating its intent to dominate the corporate solutions market globally through a string of announcements this year; expanding Throgmorton’s well-established accounting, tax, HR, payroll and company secretarial services into the US, Abu Dhabi, Switzerland and Jersey, in addition to launching Escrow services in the Americas and corporate solutions services in Hong Kong.

This latest acquisition solidifies the Group’s position in the compliance, risk and advisory space adding a wealth of experience in supporting clients with regulatory authorisation, compliance services including compliance & AML outsourcing, compliance technology, Fintech advisory, private placement compliance, client assets compliance, outsourced Finance Officer services, experience in conventional and Islamic Finance and company formation, including SPV/SPC/Prescribed Companies.

Matt Claxton, Global Head of Corporate Solutions at Apex Group, said:

“We are committed to providing a single-source solution to our clients, supporting them in navigating compliance and regulatory complexities in addition to simplifying their operations. The addition of business focused compliance including tailored fund and fund manager related compliance, will enable our clients to gain market access more quickly. The team’s experience and strong foothold across the DIFC reinforce our ability to deliver local solutions on a global scale, helping our clients to maintain the highest standards of compliance.”

Hari Bhambra, Global Head of Compliance Solutions at Apex Group, said:

“The Praesidium team are delighted to be joining the Apex Group at such an exciting time in its journey. There is a natural parity between our businesses as we are committed to understanding the needs of our clients and the need to access markets quickly. Compliance remains an integral part of financial services and as part of the global Apex Group our solution, supported by our proprietary Compliance technology, will deliver an important element of the single-source solution that enhances our clients operations.”

About Apex

Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 45 offices worldwide and 3,500 employees, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of products in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.

About Praesidium

Praesidium Advisory Ltd (‘Praesidium’) is a client advisory practice integrating business with compliance and risk. Praesidium was founded by Hari Bhambra, a post graduate in law, who also holds qualifications in Blockchain and Artificial Intelligence,  a seasoned professional with 20 years’ experience in financial services regulation and compliance, having spent time in compliance at Goldman Sachs International and been part of 2 regulatory development projects (UK FSA and DIFC DFSA), and advisor to other regulators in respect of the regulation of Islamic Finance.

http://www.praesidiumadvisory.com/

Press contacts:

Antonia Powell Antonia.powell@apexfs.com 

Or Rosie Guest rosie@apexfunds.co.uk