Bovill Newgate launches to support clients with compliance efforts

26 June 2024 Consultancy.uk 2 min. read
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Having been acquired by financial services company Ocorian earlier in 2024, the consultancy formerly known as Bovill has been rebranded. Going forward, the firm will merge with Ocorian’s regulatory and compliance business, to become Bovill Newgate.

Aron Brown, global head of regulatory and compliance services at Ocorian commented, “Growth for our regulatory and compliance team has been transformational. With the newly combined team we are a formidable player in the market, with world-class expertise, scale, and global reach. We are present in all major jurisdictions and our experts have local and global expertise so are positioned to provide the very best service our clients could hope to find.”

Founded in 1999 by Ben Blackett-Ord, over the following 25 years, Bovill became an expert global financial services regulatory partner to over 580 clients with offices in the UK, Singapore, Hong Kong and the US. The London-headquartered consultancy had a headcount of 80 specialists before it was purchased by Ocorian in February 2024.

Bovill Newgate launches to support clients with complaince efforts

At the time, Bovill Rebecca Thorpe said in a LinkedIn post, “It has been quite the journey so far (and I think I experienced every human emotion in the last few days leading up to deal close!) but I am now very excited about our new chapter. I have been busy meeting our new colleagues in the last couple of days, which reinforces for me that our future together is indeed stronger. I’m very much looking forward to bringing an ever better service to our clients as our new story unfolds.”

Ocorian, which is a global provider of financial and corporate administration services and regulatory solutions, then commenced plans to combine Bovill with Newgate – its existing regulatory and compliance business in the UK and Guernsey. The move would create a combined team of more than 120 people around the world, and be able to offer comprehensive regulatory and compliance services to financial services organisations internationally.

Bovill Newgate will serve clients with complex issues in the UK, Channel Islands, Singapore, Hong Kong, Mauritius and the Americas, helping clients to address growing concerns over regulatory risks across financial services. Looking ahead, Bovill’s founder and Executive Chair Blackett-Ord and CEO Rebecca Thorpe will join Ocorian’s regulatory and compliance leadership team.

The move also gives the former Bovill staff access to Ocorian’s proprietary technology, the Gateway. According to Brown, the platform differentiates the firm in the risk-management marketplace and “provides clients with a cutting edge, one-stop-shop to manage and deliver their three lines of defence.”

Speaking on the news, Ocorian CEO Chantal Free added, “Our multi-jurisdictional expert regulatory and compliance team is a standout differentiator for us in an ever evolving and complex market. High-level consultancy services underpinned by pragmatic support will benefit our clients and unlock new value for them.”