Cosegic announces growth of business with creation of new Wealth Management team

Posted on: 1 June 2022

Cosegic, one of the UK’s leading compliance consultancies for firms that currently provide, or are looking to provide, financial services in the UK is pleased to announce that it has made three new hires, who together will form a new specialist Wealth Management team within its Capital Markets division. Cosegic, approaching its 20^th year in business, made these hires against a backdrop of 28% growth in revenue over the last year.

Maurice McDonald joins as Director of Wealth Management, Jennifer Cahill joins as a Senior Consultant and Bisi Oluwa joins as an Associate Consultant. Together they will form a dedicated team within Cosegic that focuses exclusively on the Wealth Management sector, including Investment Managers, Financial Planners, Discretionary Portfolio Managers, Robo-Advice Platforms, Private Banks and Family Offices. Collectively, the new team bring just over fifty years of professional compliance experience to the company.

Cosegic has been on a strong growth trajectory with average annual revenue growth over the last 5 years of 20%. They were acquired by Ethos Partners in March 2021 and since then have been consolidating their position as one of the leading compliance consultancies in the financial services industry. In 2021 they added prudential services to their client offering, in addition to providing ongoing professional compliance consulting and online compliance training to the following financial services sectors: Banking, Capital Markets, Asset Management, Payment Services, Consumer Credit, Insurance and Lending. They now support more than 600 firms on an ongoing basis and look forward to increasing their expertise and reach in the Wealth Management sector.

Maurice McDonald, Director of Wealth Management commented, ‘It is a fantastic time to be joining Cosegic. Not only is the company experiencing significant organic growth, but I have been struck by just how passionate the team are about compliance and the quality of service they deliver to their clients. The introduction of the Consumer Duty will focus more firms on how they can evidence positive customer focus and I am pleased to add my expertise to help develop our service offering to ensure our clients are best supported in this new era of regulation.’ Jennifer Cahill added, “I am delighted to be teaming up with Maurice again and excited about the prospect of working together to build a specialist team of Wealth Management experts at Cosegic.”

Philip Naughton, CEO of Cosegic, explains, “Compliance is our passion. Whether it be training up our in-house compliance associates or advising our wide range of clients to ensure they receive practical solutions, when they need it the most. Fundamental to being able to offer our clients solutions that are most appropriate to their needs, are our wide range of financial sector experts who come together on a regular basis to discuss the regulatory trends that they are seeing in their sector and in their interactions with the Regulator. That is why I am delighted that we are now able to add a new Wealth Management sector expertise to these discussions, ensuring we continue to offer fully rounded un-paralleled expert advice.’