Wolters Kluwer Financial Services Acquires FRSGlobal
Wolters Kluwer Financial Services, a regulatory compliance and risk management company, 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 international financial institutions to centralise multi-country risk and regulatory reporting, and address major financial regulatory, compliance and risk management requirements globally. This acquisition will enable Wolters Kluwer Financial Services to offer financial organisations comprehensive compliance and risk solutions that cover operational risk, compliance risk, and financial risk and reporting – meeting the major risk requirements of financial organisations worldwide.
“The financial crisis, globalisation, and increasing regulatory scrutiny have created a complex and challenging environment for financial organisations,” said Brian Longe, chief executive officer (CEO) 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.”