New York, NY – January 25, 2011 – ICS Compliance today announces significant growth to its leadership and personnel in response to overwhelming demand from the hedge fund, fund of fund, and private equity community. They are pleased to announce the appointment of Gary Swiman, a 25-year industry veteran who has previously served as Director of Regulatory Affairs for Merrill Lynch, and Chief Compliance Officer at both Evercore Partners and Aberdeen Asset Management, as the new President of the ICS Compliance – Asset Management Consulting practice. Mr. Swiman will be responsible for leading the practice and expanding its reach throughout the North American and European asset manager markets. In conjunction with the appointment of Mr. Swiman, the firm has hired and assigned 20 new internal compliance professionals to support its asset management clients.
With this expansion, ICS Compliance is demonstrating its continued commitment to helping the industry meet all the newly enacted Dodd-Frank requirements, and in particular, the now required 40 Act Registration that is being imposed upon the alternative investment community.
ICS Compliance CEO John White stated, “The addition of Gary and all our new staff members represents a major leap forward for our Asset Management practice. For the past 15 years we have been the clear leader in banking and broker-dealer compliance expertise, and this expansion will clearly differentiate ICS Compliance within the Asset Management space.”
Mr. Swiman added, “This is a real opportunity and a real challenge. Having already developed programs for multi-hundred billion dollar global platforms, I’m excited to bring those standards to the small and medium size asset management firms that dominate the landscape so that they can withstand the increased inspection and scrutiny being enforced by a variety of overseers and governments which will enable them to focus on what they do best.”
With less than six months to go to the deadline for registration, ICS Compliance anticipates the continued expansion of this group over the next several months, with the goal of providing long-lasting outsourced services in support of compliance program development for its clients as well as the routine ongoing monitoring, reporting, and testing of compliance programs throughout the industry.
For additional information, please visit the ICS Compliance Asset Management website at: http://www.ICScompliance.com/AssetManagement.aspx
About Gary Swiman, JD, CPA, CFE, CFF, CAMS
Mr. Swiman is an industry veteran with 25 years of experience within the financial services industry, having previously served as Global Chief Compliance Officer for Evercore Partners ($15B in assets under management) and Aberdeen Asset Management ($281B in assets under management), as well as Director of Regulatory Affairs for Merrill Lynch and Global Head of Internal Audit at Nomura Securities. Mr. Swiman has overseen the development of compliance and audit programs for multiple investment products including hedge funds, fund of funds, private equity, mutual funds, separate accounts, and structured products. Mr. Swiman holds a Juris Doctorate from Fordham Law School, is a Certified Public Accountant (CPA), a Certified Fraud Examiner (CFE) is certified in Financial Forensics (CFF), and a member of the New York State Bar.
About ICS Compliance
ICS Compliance is the leading financial services compliance consultancy in the United States. With our 150 professionals operating in 16 states, we have proudly advised over 900 financial institutions during our 14-year history. ICS Compliance serves Registered Investment Advisors, Broker-Dealers, Hedge Funds, Alternative Asset Managers, Community Banks, International Banks, Credit Unions, Bank Holding Companies, and De Novo Banks with a broad range of services including: compliance risk assessment, SEC/FINRA/FDIC/BHC compliance program development and administration, Anti-money laundering / BSA compliance, fair lending, CRA compliance, technology compliance, and mortgage quality control.
1350 Broadway, Suite 602
New York, NY 10018
Phone: 212.714.2600 x312