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IQ-EQ acquires ComplianceAsia and Lymon Pte Ltd

28 Jun 2023

IQ-EQ, an Astorg portfolio company, has reached agreement to acquire ComplianceAsia and Lymon Pte Ltd, two transactions that make IQ-EQ the market-leading independent regulatory compliance business globally. These transactions complement the Group’s established regulatory compliance operations in the UK and U.S. and are a welcome addition to our growing Fund and Asset Managers segment.

ComplianceAsia, the longest established compliance consulting firm in Asia Pacific and one of the largest firms operating in the region was 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 newly combined team of 101 FTE 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 acquisitions add further strength and depth to IQ-EQ’s existing regulatory compliance business, offering clients a range of additional products and services delivered by an expanded and highly experienced team.

Commenting on the announcement Michael Marquardt, IQ-EQ Regional CEO for Asia said:

“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. Together we can offer our clients an unparalleled range of services, expertise and ease of access to new markets. We can’t wait to get started as one IQ-EQ team and believe that the potential opportunities for us, our newly combined businesses and our clients are significant.”

Philippa Allen, co-founder and CEO of ComplianceAsia and newly appointed Managing Director, Head of Regulatory Compliance, Asia at IQ-EQ commented:

“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. The opportunities that lie ahead are immense not just for us commercially but for our clients and the ComplianceAsia team who now join a people focussed business dedicated to delivering client service excellence. We’re a strong commercial and cultural fit and together with Yishan, Michael and the wider Asia team I’m confident that we’ve a bright future together as part of the IQ-EQ team.”

Yishan Lee, founder and managing director of Lymon and newly appointed Managing Director, Regulatory Compliance, Singapore 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. We’re excited to be on this journey together and know we’ll be a formidable team.”

Alex Duperouzel, Managing Director of ComplianceAsia will step away from the business after a short transition period.

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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