MYCOMPLIANCEOFFICE ANNOUNCES CLOSE OF SCHWAB COMPLIANCE TECHNOLOGIES ACQUISITION

 

NEW YORK, May 5 (Bernama-BUSINESS WIRE) -- MCO (MyComplianceOffice), a global provider of conduct risk and compliance technology, today announced that the company has finalized its acquisition of Schwab Compliance Technologies (SCT), a solution that automates monitoring employee trading activity and administering a firm's Code of Ethics. The closing of the deal marks a meaningful step toward the company’s expansion and position as a leading authority on conduct risk and compliance technology

The SCT team is now part of MCO and will continue to deliver exceptional service as well as ensure a smooth, effective transition for SCT clients. Additionally, as part of the sale, the Schwab Compliance Technologies (SCT) product name was changed to MyComplianceTechnologies (MCT).

The close of this acquisition:

• Brings MCO’s client firms to more than 1300 in 105 countries
• Increases staff numbers to over 250 people dedicated to serving a growing customer base from offices located in US, Ireland, India and Singapore
• Opens a new Chicago office from which to best serve our newest clients
• Creates a highly complementary set of products, customers and employees to accelerate MCO growth

Brian Fahey, CEO, MCO, said: “We are excited for the next phase of our business and to officially welcome SCT and its team to the MCO family. It cannot be overstated how important the expertise of our newest MCO employees is to delivering value to SCT clients. Their knowledge and passion will help to bring together the best of both products, quickly and effectively, and ensure best-in-class KYE compliance for all. Today underscores MCO’s commitment to expanding and investing in this market. Our history of product innovation and strong client focus will help to cement the success of this acquisition and drive product growth for years to come.”

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20220502005459/en/

Contact

Media Contacts:
Lisa Deschamp, Vice President, Global Marketing
MyComplianceOffice
lisa.deschamp@mycomplianceoffice.com

The Comms Crowd
mycomplianceoffice@commscrowd.com

Source : MyComplianceOffice