Apex bolsters UAE presence with acquisition

Apex Group has acquired Praesidium Advisory, a compliance and risk advisory firm based in the United Arab Emirates (UAE).

The acquisition adds to Apex’s corporate solutions business following an expansion of its subsidiary Throgmorton into the UAE through Throgmorton Compliance Solutions.

Praesidium will expand Apex’s presence across London, Switzerland, Singapore, the Dubai International Finance Centre (DIFC), and the Abu Dhabi Global Market (ADGM) through asset managers, family offices, government entities, financial institutions and law firms.

Following this acquisition, Apex will be able to offer clients a range of compliance services, including anti-money laundering outsourcing, compliance technology, fintech advisory, client assets compliance, and private placement compliance.

Matt Claxton, global head of corporate solutions at Apex Group, commented: “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, founder of Praesidium and newly named global head of compliance solutions at Apex Group, added: “The Praesidium team are delighted to be joining the Apex Group at such an exciting time in its journey.”

“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.”