fscom said the acquisition accelerates the firm’s expansion into asset and fund management and consolidates its position as a leading authority within the sector.

Jamie Cooke, CEO of FSCom Limited, said "We are delighted to announce the acquisition of FMConsult as a pivotal step in fscom’s expansion strategy for our asset and fund management practice. FMConsult’s expertise and experience complements fscom’s wider governance, risk and compliance offering. This acquisition bolsters our ability to offer a comprehensive solution that meets the demand for compliance services within the sector.”

The acquisition, advised by corporate finance advisors NovitasFTCL and commercial law firm, Davidson McDonnell, will facilitate the expansion of fscom’s consulting capabilities, positioning it for accelerated growth within the financial services market.

FMConsult was founded in 2004 by Jim Fleming and Dallas McGillivray, and specialises in risk and compliance solutions for asset managers.

Andy Hicks, Managing Director of FMConsult, said of the partnership: "Through fscom, FMConsult now has the potential to provide both existing and future clients with the opportunity to access a multi-disciplinary team of experts across regulatory compliance, financial crime and cyber security to supplement its experienced industry experts in delivering outstanding client solutions. This will give our clients enhanced peace of mind that their governance, risk, and compliance requirements will be met. It is an exciting time for FMConsult and we are looking forward to growing with the support of the wider fscom group.”

Jamie Cooke concluded: “FMConsult provides us with immediate growth opportunities and further strengthens fscom’s commitment to the asset and fund management market in the UK and Ireland.”

The trading name FMConsult will continue as part of the FSCom Group under the operation of Fleming McGillivray &Co (UK) Limited.