ACA Compliance Group
Creating a host of high-value jobs, ACA’s new base is home to its UK Analysis and Review Centre (ARC), which helps to reduce the workload of Chief Compliance Officers (CCOs) and in-house compliance teams by allowing them to pass on executional regulatory responsibilities to ACA.
ACA works with businesses to help them mitigate regulatory, operational and reputational risks associated with their organisations. Its wide-ranging client base spans domestic and international banks, investment advisers, private fund managers, commodity trading advisors and broker dealers.
ACA Partner, Philip Naughton said:
“Heightened levels of global regulation combined with increasing scrutiny and cost pressures place CCOs and compliance teams under mounting pressure. Where firms do not want to bring in additional internal resources, they can turn to our Analysis and Review Centre and tap into a pool of highly skilled compliance professionals. This flexible resource can be scaled to meet the needs of clients, involves little to no ramp-up or training and reduces key person risk and hiring processes.”
A region of opportunity
The West Midlands is home to the largest regional cluster of business, professional and financial firms outside of London, with more than 358,200 people employed in over 50,000 companies.
Generating £24.5 billion of GVA annually, the sector is considered the region’s most significant industry, with forecasts suggesting its value is set to double to £50 billion over the next 10 years.
From major banks and consultancy firms to accountancy, legal and insurance practices, the West Midlands’ diverse economy has attracted a variety of BPFS companies to set up and expand operations in the region, with recent examples including HSBC UK, KPMG, PwC and international law firm Gowling WLG.
David Fisken, Head of Business Attraction at the West Midlands Growth Company, said:
“ACA Compliance Group’s expansion into Birmingham is testament to the growing strength and prominence of the region’s BPFS sector. The region has earned itself a reputation for its high-value business environment thanks to an abundant pool of highly skilled talent and rapid growth in the number of global firms consolidating operations here.”
Key to these firms’ decision-making is the wealth of opportunities to foster new business leads within the region’s varied and dynamic local supply chain.
Bursting with talent
Bolstering the region’s appeal among BPFS firms is its pipeline of qualified and ambitious talent.
34,000 students each year study business-related courses in the West Midlands, with Birmingham as home to more business students than any other regional city in the UK.
Students choose to study in the region because of its internationally-esteemed business schools – including Birmingham, Aston and Warwick universities – which are well-known for the high-calibre, industry-ready graduates they produce.
And as well as upholding a strong graduate retention rate each year, the region’s high density of leading, well-known organisations is attracting more and more young professionals to develop their careers in Birmingham and the wider West Midlands region, as opposed to the BPFS sector’s traditional heartland in London.
According to ONS data, more people are moving from the capital to the West Midlands than to any other UK regional area, with Birmingham attracting more people away from London than it is losing.
Business Support in the West Midlands
Helping ACA establish its presence in the region, the West Midlands Growth Company (WMGC) supported with a number of services to settle the firm into its new Birmingham home.
WMGC ensured the company was connected to the relevant businesses from the wider BPFS ecosystem in addition to making introductions to recruiters, universities and other advisory organisations. Based on ACA’s brief, WMGC also supported with helping the firm to identify the right premises.
WMGC’s dedicated, in-house PR and communications team worked with ACA to boost the organisation’s profile locally and nationally by leading media activity to promote the investment.