BDO Guernsey has acquired local regulatory compliance specialist business Cerberus in a deal which has been planned since early 2020 and was announced today, 1 May 2020.
The move sees Cerberus become BDO Cerberus Regulatory Consulting which will champion the accountancy and business advisory firm's regulatory consulting services in Guernsey.
Cerberus was formed in August 2019 and specialises in governance, risk and compliance services. Cerberus founder, Paul Robinson, and senior consultant, Amanda de Carteret, are now permanent employees of BDO. Paul, now a business advisory director with BDO will continue to perform the role of managing director of the BDO Cerberus Regulatory Consulting board alongside BDO managing director, Richard Searle, and executive director, Stuart Phillips, who are also joining the board.
Richard Searle explained the decision: “Having worked with Paul during 2019, we recognised the alignment between the culture and values of our businesses and growth plans. At the time BDO had been exploring various routes to developing our regulatory consulting practice and so it made sense to unite the two at an early stage. Through BDO Cerberus Regulatory Consulting, BDO will widen our Guernsey compliance assurance services to businesses across the finance sector.
“Paul and Amanda are extremely well known in the market for their depth of expertise across all areas of the corporate governance landscape and for their approachability – it’s great to be able to welcome them officially to the BDO family. Their expertise is a valuable addition to our business advisory market offering.”
Before establishing Cerberus, Paul worked for the GFSC where he was part of the team that founded the Financial Crime Division and developed the Commission’s Handbooks on Countering Financial Crime and Terrorist Financing.
Amanda De Carteret joined Cerberus in December 2019 having spent more than a decade at the GFSC. During her tenure at the Commission, Amanda was responsible for overseeing the regulated activities of investment licensees and collective investment schemes, and played a role in the establishment of Guernsey’s AIFMD opt-in regime and the regulatory considerations of a hybrid ILS fund product.
Paul Robinson said: “Becoming part of BDO is a hugely exciting stage for Cerberus, enabling us to fast-track our growth as part of a locally owned, globally connected business that is committed to Guernsey. BDO is known for its professional yet personable and straight forward approach which made this the perfect fit for Cerberus.
“Amanda and I are looking forward to sharing and aligning our services with our new colleagues and working with the power of the BDO brand to further develop our offering.”