IQ-EQ grows compliance offering in Asia

IQ-EQ has expanded its compliance offering and foothold in Asia through the acquisition of ComplianceAsia and Lymon.

ComplianceAsia was founded in 2003 and provides compliance consulting services. Following the transaction, its managing director Alex Duperouzel will leave the business after a short transitional period. Lymon offers regulatory compliance services to financial services firms in Singapore and was founded in 2013.

According to IQ-EQ, these acquisitions allow the company to provide the following services:

• AML/KYC
• Consulting
• Training
• General corporate
• Internal audit
• Licence applications
• Mock inspections
• Ongoing reviews
• Risk management services

The services will be provided by a team of 101 operating across the Asia Pacific region.

“These transactions are incredibly exciting for us as it not only significantly expands our existing regulatory compliance business here in Asia Pacific, a key strategic growth region for our business, but it makes IQ-EQ the leading independent regulatory compliance provider in the region and a leading provider globally,” said Michael Marquardt, IQ-EQ’s regional CEO for Asia. “Together we can offer our clients an unparalleled range of services, expertise and ease of access to new markets. We can’t wait to get started as one IQ-EQ team and believe that the potential opportunities for us, our newly combined businesses and our clients are significant.

Philippa Allen, co-founder and CEO of ComplianceAsia, and newly appointed managing director and head of regulatory compliance Asia at IQ-EQ, commented: “Joining the IQ-EQ team takes us from being the leading regulatory compliance provider in the Asia Pacific region to being the leading provider globally. The opportunities that lie ahead are immense not just for us commercially but for our clients and the ComplianceAsia team, who now join a people-focused business dedicated to delivering client service excellence. We’re a strong commercial and cultural fit, and together with Yishan, Michael and the wider Asia team I’m confident that we’ve a bright future together as part of the IQ-EQ team.”

Yishan Lee, managing director, regulatory compliance Singapore at IQ-EQ, and founder and managing director of Lymon, added: “We’re immensely proud of everything we’ve achieved as a Lymon team, however as part of IQ-EQ Group we can take it to even greater heights. We can now offer our clients direct access to a much broader suite of international services, significant global expertise, new markets and best-in-class technology. We’re excited to be on this journey together and know we’ll be a formidable team.”