Mar 2, 2023

Acquisition further enhances Ankura’s Global anti-financial crime offering to help banking and Fintech clients navigate the full spectrum of BSA/AML challenges Ankura Consulting Group, LLC , a leading global expert services and advisory firm, announced that it has acquired Chartwell Compliance  (“Chartwell”), a leading global regulatory compliance and risk management firm that is a wholly-owned subsidiary of MVB Bank, Inc. held by MVB Financial Corp. The addition of Chartwell expands Ankura’s Global Anti-Financial Crime (AFC) Practice across a wide range of banking and financial technology (Fintech) businesses, addressing a crucial need for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory and compliance programs among mid-market banks, cryptocurrency and blockchain platforms, venture capital firms and payment solution providers. Founded in 2011 in Bethesda, Maryland and now headquartered in Fairmont, West Virginia, Chartwell provides integrated regulatory compliance, state licensing, financial crimes prevention, and enterprise risk management services that include consulting, outsourcing, testing, and training solutions. As one of the world’s leading specialist firms in state and federal compliance and market entry facilitation for firms entering into or expanding in North America, Chartwell serves many of the most high-profile providers in the Fintech industry, including commercial bill pay solution providers, cryptocurrency and blockchain innovators, publicly-traded online marketplaces, venture capital firms, Fintech banks, third-party payments processors and financial accounting software providers. Since joining MVB Bank in 2019, Chartwell has deepened its advisory expertise and capabilities, more than tripled its revenue and headcount, and positioned itself for continued strong growth. “Having Chartwell as a part of the MVB family over the past three years has been an extremely beneficial relationship that allowed MVB to grow and scale our Fintech business while we also strengthened 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 great fit for Ankura, and we will continue to have a trusted partnership moving forward. MVB Bank will remain a Chartwell client,” said Larry F. Mazza, MVB CEO. Chartwell’s approximately 60 employees, including Jonathan Abratt and Sherry Tomac of Chartwell’s Executive Management team, join Ankura’s Global Risk, Forensics & Compliance Group. “The addition of Chartwell provides Ankura with a clear market differentiator by allowing us to offer banking and Fintech compliance services that are uniquely complementary to our investigations, litigation, and oversight offerings,” said  Steven Richards , Senior Managing Director and Global Leader of Ankura’s Risk, Forensics, & Compliance Group. “We are thrilled to have Chartwell join our Forensics practice, which complements our growth over the past two years beyond the United States into Frankfurt, London, Hong Kong, and Dubai. With Chartwell’s further expertise, we’ll be able to better service our global clients across borders as the premier firm helping a diverse range of Fintech clients successfully navigate and remain in compliance with existing and emerging regulations.” “My colleagues and I are incredibly excited to welcome Jonathan, Sherry, and the entire Chartwell team to Ankura,” said  Kevin Lavin , Chief Executive Officer 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 that is 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.”