KordaMentha buys financial crime boutique Murray Waldren Consulting

03 October 2022 Consultancy.com.au 2 min. read
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KordaMentha has bolstered its financial crime services with the addition of Murray Waldren Consulting, a Melbourne-based boutique specialised in anti-money laundering and counter-terrorist financing.

Founded in 2018 by the duo Alice Saveneh-Murray and Rachel Waldren, Murray Waldren Consulting provides consulting, training and interim services to clients in the financial services, gaming, regulatory and banking sectors. The firm operates out of offices in Melbourne and Sydney.

Having partnered with the boutique over the past years, “we’re now very excited about one of Australia’s most respected financial crime advisory firms becoming part of our team,” said KordaMentha partner Chris Martin.

The team of Murray Waldren Consulting

The deal comes at a time of booming demand for financial crime compliance expertise, against a backdrop of mounting regulatory pressure from AUSTRAC and several governance scandals plaguing Australia’s biggest banks and casinos.

“Client demand for anti-money laundering and counter terrorism financing advisory services are undoubtedly growing. The enforcement action and regulatory intervention relating to breaches of financial crime legislation have increased the need for clients to proactively manage their regulatory risk,” said Martin.

“Murray Waldren Consulting forms an ideal partner to deepen our financial crimes capabilities, and the combination will enable us to service clients on a larger scale, assisting with compliance reviews and investigations into alleged violations of anti-money laundering / counter-terrorist financing legislation and sanctions breaches.”

“Their expertise is also complementary to both the disputes and investigations work undertaken by our Forensic practice, and the corporate transformation and project management work undertaken by our Corporate practice,” Martin added.

Commenting on the joining of forces of KordaMentha, which has around 400 employees and is particularly known for its restructuring expertise, Waldren said, “This is a fantastic opportunity for our team to join with one of the most reputable consulting firms in the industry, with whom our culture and values are closely aligned.”

“This partnership enables us to grow and scale our business and provides exciting opportunities for our team as a whole to deliver our valued clients a broader set of new and emerging services,” added Saveneh-Murray.

Last month, another Melbourne-based financial crime advisory boutique, Initialism, joined Grant Thornton.