Chartwell joins Ankura to strengthen Global Banking and Fintech Compliance Advisory Services
The acquisition further enhances Ankura’s global anti-financial crime offering to help banking and Fintech clients navigate the full spectrum of BSA/AML challenges
NEW YORK, 1 March 2023 /PRNewswire/ — Ankura Consulting Group, LLC (“Ankura”), a leading global expert services and advisory firm, today announced that it has acquired Chartwell Compliance (“Chartwell”), a leading global compliance and risk management company which is a wholly owned subsidiary of MVB Bank, Inc. which is owned by MVB Financial Corp. (NASDAQ: MVBF) (“MVB”, “MVB Financial”). The addition of Chartwell expands Ankura’s global Anti-Financial Crime (AFC) practice across a broad spectrum of banking and financial technology (Fintech) businesses, addressing a critical regulatory and compliance need for Bank Secrecy/Anti-Money Laundering (BSA/ AML). programs among middle market banks, cryptocurrency and blockchain platforms, venture capital firms and payment solution providers.
Founded in 2011 in Bethesda, Maryland and now has headquarters in Fairmont, West VirginiaChartwell offers integrated compliance, government licensing, financial crime prevention and risk management services for businesses that include consulting, outsourcing, testing and training solutions. As one of the world’s leading specialist firms in state and federal compliance and market access facilitation for firms entering or expanding into North AmericaChartwell serves many of the most high-profile providers in the Fintech industry, including providers of commercial invoice payment solutions, cryptocurrency and blockchain innovators, publicly traded online marketplaces, venture capital firms, Fintech banks, third-party payment processors and financial accounting software providers. Since joining MVB Bank in 2019, Chartwell has deepened its advisory expertise and capabilities, more than tripled revenues and headcount, and positioned itself for continued strong growth.
“Having Chartwell as part of the MVB family over the past three years has been an extremely beneficial relationship that has enabled MVB to grow and scale our Fintech business while strengthening our internal risk and compliance resources. Chartwell is an industry leader and has expanded in new and creative ways, and we believe Chartwell will continue to thrive as part of the Ankura team. Chartwell’s services and expertise are a good fit for Ankura, and we will continue to have a trusted partnership going forward. MVB Bank will remain a Chartwell client,” said Larry F. MazzaCEO of MVB.
Chartwell’s approximately 60 employees, including Jonathan Abratt and Sherry Tomac from Chartwell’s Executive Management team, join Ankura’s Global Risk, Forensics & Compliance Group.
“The addition of Chartwell provides Ankura with a clear market differentiation by allowing us to offer banking and Fintech compliance services that are uniquely complementary to our investigations, litigation and regulatory offerings,” said Steven Richards, senior managing director and global head of Ankur’s Risk, Forensics, & Compliance Group. “We are delighted to have Chartwell join our forensics practice, complementing our growth over the past two years beyond the United States into Frankfurt, London, Hong Kongand Dubai. With Chartwell’s additional expertise, we will be able to better serve our global clients across borders as the premier firm helping a diverse range of Fintech clients successfully navigate and remain compliant with existing and new regulations.”
“My colleagues and I are incredibly excited to welcome Jonathan, Sherry and the entire Chartwell team to Ankura,” said Kevin Lavigne, CEO of Ankura. “They have built a strong business and we are confident that they will be empowered to reach even greater heights as part of Ankura. Chartwell and Ankura share a collaborative ethos focused on providing the highest quality advisory services to clients, and we look forward to working with our new colleagues as we continue to help clients navigate regulatory complexity.”
Davis Polk & Wardwell LLP acted as legal advisor to Ankura. Squire Patton Boggs served as legal advisor to MVB Financial Corp.
About MVB Financial Corp.
MVB Financial Corp. (“MVB Financial” or “MVB”), the innovative financial holding company of MVB Bank, Inc., is listed on The Nasdaq Capital Market® under the ticker “MVBF.” Through its subsidiary, MVB Bank, Inc., (“MVB Bank”) and the bank’s subsidiaries, MVB provides services to individuals and corporate clients in the Mid-Atlantic region, as well as to Fintech, payment and gaming clients throughout the United States. For more information about MVB, please visit ir.mvbbanking.com.
About Ankura
Ankura Consulting Group, LLC is an independent global expert services and consulting firm that provides services and end-to-end solutions to assist clients at critical inflection points related to conflict, crisis, performance, risk, strategy and transformation. The Ankura team consists of more than 1,800 professionals serving 3,000+ clients in 55 countries who are leaders in their respective fields and areas of expertise. Collaborative lateral thinking that delivers ᵀᴹ, hard-earned experience, expertise and multidisciplinary capabilities drive results, and Ankura is unmatched in its ability to help clients protect, create and recover valueᵀᴹ. For more information, please visit ankura.com.
About Chartwell Compliance
Chartwell Compliance, now part of Ankura, provides integrated regulatory compliance, government licensing, financial crime prevention and enterprise risk management services that include consulting, outsourcing, testing and training solutions for fintechs and banks. For more information, please visit
Forward-looking statements
This press release contains forward-looking statements. The statements made herein are not guarantees of future performance and you should not rely on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any forecasts of future performance or results expressed or implied by such forward-looking statements.
SOURCE Ankura
