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Wolters Kluwer Financial Services acquires FRSGlobal

Wolters Kluwer Financial Services, a regulatory compliance and risk management business, has acquired FRSGlobal, a Brussels-based financial regulatory reporting and risk management business, from The Carlyle Group and growth equity investor Kennet Partners.

FRSGlobal’s solutions enable financial institutions to centralise multi-country risk and regulatory reporting, and address major financial regulatory, compliance and risk management requirements.

This acquisition will enable Wolters Kluwer Financial Services to offer financial organisations compliance and risk solutions that cover operational risk, compliance risk, and financial risk and reporting.

“The financial crisis, globalisation, and increasing regulatory scrutiny have created a complex and challenging environment for financial organisations,” says Brian Longe, chief executive officer of Wolters Kluwer Financial & Compliance Services. “Financial organisations are requiring intelligent and comprehensive solutions and services to help them address the complexities of a rapidly evolving regulatory environment. Together, FRSGlobal and Wolters Kluwer Financial Services will be able to provide global financial organisations with the most comprehensive compliance and risk management solutions available.”

The addition of FRSGlobal creates the world’s largest compliance and risk management business focused on financial services, with more than 15,000 banking, insurance and securities customers across the globe.

“Joining Wolters Kluwer Financial Services means that our customers will have access to an even broader array of compliance and risk management solutions,” says Steve Husk, chief executive officer of FRSGlobal. “With a shared commitment to meeting the evolving needs of the financial services market, FRSGlobal and Wolters Kluwer Financial Services will be able to comprehensively address the needs of financial organisations around the globe.”

Financial terms of the deal were not disclosed.

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