Business advisory firm Quantuma has completed the acquisition of Cayman Islands-based asset recovery firm Alchemy.
Alchemy, founded by Angela Barkhouse, specialises in finding assets and recovering financial losses, by using artificial intelligence, data visualisation and open-source intelligence in combination with financial crime experts, forensic accountants and insolvency practitioners.
Barkhouse said global asset tracing is closely aligned with the cross-border work done by Quantum’s restructuring and forensic accounting practices.
“I am delighted to be joining Quantuma and look forward to establishing the firm’s brand in Cayman and further afield in the Caribbean,” she added in a press release.
Quantuma said expanding the firm’s international presence is in line with its strategic ambition to develop its cross-border advisory capabilities and increase its service offering in selected offshore centres.
The firm has been active in recent years, opening two offices in Cyprus in 2018 and agreeing on a joint venture with Mauritius-based Thacoor Advisory in 2019.
Andrew Hosking, head of international at Quantuma, said, “Our expansion into the Cayman Islands is a crucial first step to developing our global footprint in this key offshore financial centre, just as we have done in Europe and Africa previously.
“We will be working closely alongside Angela to expand our advisory capabilities and service range, as well as making use of the team’s outstanding expertise in asset recovery.”
Established in 2013 by Carl Jackson, Quantuma has grown to become a £23 million (US$31 million) turnover business, with more than 250 staff across 17 UK locations. The firm’s advisory services, include restructuring and insolvency, corporate finance, forensic accounting and pensions advisory.
Quantum CEO Carl Jackson said, “We will be looking to replicate our success in Cyprus and Mauritius with our Cayman Island office and look forward to accelerate our cross-border capabilities as businesses across the globe look to rebound from the COVID-19 pandemic.”