The Latest In Wealth Management M&A – ACA Group, Effecta

The latest mergers, acquisitions and other corporate actions in the wealth management sector.

ACA Group, Effecta

In a move to broaden its global footprint, ACA Group
has acquired the Effecta
Compliance Group, a regulatory consultancy practice that
supports financial services firms throughout the UK and the
UAE. The financial terms were not disclosed.

ACA Group provides governance, risk, and compliance (GRC)
solutions to clients in the financial services industry. The
acquisition initiates ACA’s presence in the Middle East and
equips ACA to meet the growing governance, risk, and compliance
needs of its expanding number of international clients, or those
already present in the UAE. The acquisition also broadens ACA’s
service offering to UK firms as they navigate compliance
requirements, the firm said in a statement. 

Recent data shows an increase in the number of international
firms expanding into the UAE. In 2023, the Dubai Financial
Services Authority (DFSA) saw a record-breaking 157 applications,
marking a 45 per cent increase compared with the prior year
and the highest number of submissions in this five-year period.
As of the end of June 2024, the number of licences issued by Abu
Dhabi Global Market (ADGM) indicated a 20 per cent increase
compared with the prior year. This trend reflects the
growing importance of the region as a global financial hub,
driven by the legal, tax, and regulatory environment through its
financial free zones, specifically the Dubai International
Financial Centre (DIFC) and ADGM. See more commentary
here and here.

This latest transaction will introduce current Effecta clients to
ACA’s advisory support, managed services, and technology. ACA now
has 10 offices globally, including offices in the DIFC in Dubai
and ADGM in Abu Dhabi, its headquarters in New York
City, the US, as well as London, Malta, and Pune.

Clare Curtis, founder of the Effecta Compliance Group, will
oversee ACA’s capabilities in the UAE under the ACA Effecta
brand. She has more than 20 years of experience in regulatory
compliance for financial services firms in the UK and the Middle
East, working with investment banks, asset managers, corporate
finance, broker-dealers, and exchanges. 

“The acquisition of Effecta significantly enhances our ability to
support clients as they look to launch, grow, and protect their
presence in the rapidly-developing financial centres of the UAE,”
said Patrick Olson, chief executive officer of ACA, said.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}