Highly experienced in compliance for asset managers, she will join Tom Powell, who joined as Chief Operating Officer from Matrix in late 2010, to offer a virtual COO service. Joy will help Sturgeon to enhance the advice it gives to clients on their corporate governance and compliance requirements in several critical areas.
Seonaid Mackenzie, Managing Partner of Sturgeon, commented: We are delighted Joy Ighade is joining our compliance and due diligence team. She adds a tremendous amount of expertise to our service, which we expect to assume yet more importance for fund managers this year with the FSA intending to tighten regulations and supervision with regards to unregulated collective investment schemes (UCIS) and the suitability issues surrounding the promotion of alternative funds to potential investors and the new UCITS IV rules. Joy will play an important role in assisting our clients in their operational due diligence development, assessing and monitoring their counterparties and compliance and governance affairs.
Prior to joining Sturgeon, Joy Ighade worked as a compliance consultant on a contracted basis at one of the leading hedge fund houses in the City. During her career she was also a Funds Compliance Monitoring Manager for Sarasin & Partners and Quality Control Manager for Trust & Depositary Services at HSBC Bank.
Sturgeon has seen a major increase in inquiries over the last two years from City workers tired of bonus cuts and taxes as well as the restrictions of working in big organisations wishing to set up on their own. The vast majority of inquiries it receives are from bank or ex-bank workers. The start-ups are mainly asset management firms, corporate finance consultancies and third party fund raising operations. More foreign firms are also looking to locate new offices in London, trading on their own stronger currencies.
Sturgeon specialises in helping entrepreneurs establish start-up financial services businesses, nurturing them through the initial regulatory phase until they can be directly regulated by the Financial Services Authority in their own right. Sturgeon provides advice on marketing, training, human resources, branding and compliance, helping companies to gain competency and prove their business models to the regulator. It believes it is the UKs longest running regulatory umbrella in the institutional arena.
Sturgeon can help clients achieve direct authorisation straight away, either doing the work or delegating it to a compliance consultancy they work with many in London whose services they recommend, or it can make clients appointed representatives of Sturgeon until they can attain directly regulated status and gain relevant competencies in their chosen future business field. Sturgeon can also help clients to buy authorised firms that want capital injections or new partners. For more information, see the website: www.sturgeonventures.com
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