Global investor services group IQ-EQ announces expansion of its regulatory compliance business in Asia.

IQ-EQ, an Astorg portfolio company, this week reached an agreement to acquire ComplianceAsia and Lymon PTE, strengthening its regulatory compliance business globally.

The acquisitions will complement IQ-EQ’s regulatory compliance operations in the UK and the US, offering clients a range of additional products and services delivered by an expanded team, the firm said in a statement.

ComplianceAsia is a compliance consulting firm in Asia Pacific, founded in 2003 by Philippa Allen. Lymon was founded in Singapore in 2013 by managing director Yishan Lee, to address a gap in the market in the provision of regulatory compliance services for financial institutions in Singapore, the firm continued. The newly-combined team of 101 full-time employees will operate across the Asia Pacific region servicing their combined international client base of asset managers, hedge fund managers, private equity and venture fund managers, real estate firms, family offices, broker-dealers, insurers, wealth managers and investment banks.

“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,” Michael Marquardt, IQ-EQ regional CEO for Asia, said.

“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,” Philippa Allen, co-founder and CEO of ComplianceAsia and newly-appointed managing director, head of regulatory compliance, Asia at IQ-EQ, 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,” Yishan Lee, founder and managing director of Lymon and newly-appointed managing director, regulatory compliance, Singapore at IQ-EQ, said. 

Meanwhile, Alex Duperouzel, managing director of ComplianceAsia, will step away from the business after a short transition period, the firm said.