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Beverly Chandler

Alpha FMC launches Compliance Practice

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Asset and wealth management consultant, Alpha FMC, has launched a dedicated Compliance Practice with Andrew Glessing as director and head of the practice which will initially comprise nine consultants. 

The firm writes that Alpha already plays a central role in helping clients meet the expectations of the Regulator, particularly in relation to governance, systems and controls, risk management and the way in which firms deal with regulatory and business changes.
 
However, the launch reflects the formal establishment of this capability as a stand-alone practice within Alpha. Andrew Glessing has over 25 years’ experience in financial services and compliance consulting. He spent seven years as manager at the Financial Conduct Authority where he led teams supervising FSA/FCA-regulated asset and wealth managers, platforms, pension providers and outsourcing firms, as well as conducting numerous risk assessments and thematic reviews across these companies.
 
Glessing joins Alpha from compliance consultancy firm The Consulting Consortium where he was Managing Director of Advisory Services for three years. The appointment follows the hire of Mikko Ala-Ilomaki who joined Alpha as Principal earlier this year. Ala-Ilomaki plays a senior role leading Compliance Rule Coding within the new practice and will report directly to Andrew Glessing. He was previously at Deutsche Asset & Wealth Management.
 
The firm writes that the official launch of a dedicated compliance practice and the hire of two seasoned experts represents a key milestone in Alpha’s expansion strategy. Since its inception over 13 years ago, Alpha has grown rapidly; the firm launched a dedicated M&A practice in September 2015 and is now the leading global consulting firm to the asset management industry with over 160 employees and 50 associates currently supporting clients in seven offices globally.
 
Euan Fraser, Alpha FMC Global Chief Executive Officer, says: “We are extremely excited about the launch of the Compliance Practice. The new practice will build upon Alpha’s existing capabilities and is part of the business that we plan to grow significantly in the coming years. Alpha already has a strong track-record of supporting our clients with their compliance initiatives and Andrew and Mikko’s extensive experience will allow us to deepen our capabilities and provide a new range of services to our clients.”
 
Andrew Glessing, Director and Head of Compliance Practice, says: “I am thrilled to be joining Alpha – a business with a track record of strong growth and bold expansion plans – and helping it deepen its compliance expertise for the benefit of our clients. With high-profile regulatory directives such as MiFID II, MAD 2 and PRIPS underway, alongside the FCA’s asset management review in the UK, we are seeing an increased demand for compliance services from the asset and wealth management industry. Alpha is committed to supporting clients meet regulators’ developing expectations, and the standards of conduct they set for themselves, both now, at this time of significant change and closer regulatory scrutiny, and in the future.”
 

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