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IN THE NEWS: Norris McLaughlin Represents Lombard Risk $4.25 Million Acquisition of SOFGEN Regulatory Reporting Business

The International Law Group of the Bridgewater-based law firm Norris McLaughlin & Marcus, P.A., represented Lombard Risk Management plc in its acquisition of the regulatory reporting business of banking consultancy SOFGEN Holdings Limited for $4.25 million in cash, loan notes and equity. Robert C. Gabrielski, a Member of the firm and Chair of its Business and International Law Groups, led the team of attorneys that worked on the deal, including Wendy Z. GreenwoodcorporateCharles A. Bruderemployee benefitsJeffrey M. Casalettoenvironmental; and Jeanne Hamburgintellectual property.

Lombard Risk, a leading provider of integrated collateral management and liquidity, regulatory and MIS reporting solutions for the financial services industry, already had a major business in regulatory reporting through its existing REPORTER product, which is used globally, including in the United States. The main part of the business acquired is the U.S. and Canada regulatory reporting product REG-Reporter, which is used by Bank of America and Royal Bank of Canada, among others. The acquisition catapults the risk specialist into the top three providers, along with FIS and Jack Henry, of regulatory reporting for U.S. domestic banks, and offers those banks improved risk management through the combination of both companies’ reporting products. The deal gives Lombard over 250 clients around the world for bank regulatory reporting.

John Wisbey, CEO of Lombard Risk, says: “This is an important strategic breakthrough for us, as it gives critical mass in the North American market place, both for foreign and domestic banks in the United States. We already had this for collateral management, but we now have it for regulatory reporting.”

Norris McLaughlin Represents Lombard Risk $4.25 Million Acquisition of SOFGEN Regulatory Reporting Business