Softek Acquires Specialist Compliance Services Firm Elinphant

Acquisition broadens Softek’s services adding a premier suite of Compliance capabilities

TORONTO & NEW YORK--(BUSINESS WIRE)--Softek, a leading provider of Capital and Credit management solutions today announced the acquisition of Elinphant, a Compliance Consulting firm founded and led by Elin Cherry.

Andrew Powell, COO at Softek, said, “Our on-going success has been driven by our in-depth expertise and knowledge around Capital, Credit and Risk. Many of the facets related to Compliance management complement and support the services we offer. Elinphant, with a wealth of experienced compliance specialists and market leading services, meant that bringing the firms together made perfect sense. It offers our current and future clients a greater range of highly complementary services.”

Cherry, Founder & CEO of Elinphant, commented: “Five years ago, I founded Elinphant in order to address a growing market need for high-quality, yet affordable, Compliance services. The growth in the business has exceeded my expectations, driven largely by the expert team that works at Elinphant. Having partnered with Softek since the start of my journey we’ve watched our respective firms’ grow and develop. As Andrew has mentioned, our services are highly complementary which means, by combining our firms, we can offer more scope and greater scale for our clients.”

Cherry will become a member of Softek’s Executive Committee and, building on the success of Elinphant, will assume global responsibility for Softek’s Compliance Services business.

About Softek

Softek is a leading provider of Capital and Credit Management services with a focus on regulatory capital, margin lending, security finance and risk reporting. Our full service utility delivers an innovative suite of integrated pre- and post-trade solutions by combining data management, risk and capital calculations in near real time.

Softek services a diverse range of financial businesses including; Banks, Prime Brokerage, Broker-Dealers, Proprietary Trading, Correspondent Clearers, Wealth Management and Hedge Funds

About Elinphant

Elinphant is a specialist Compliance Consulting firm, a certified Women-Owned Small Business, as outlined by the SBA and by the Women’s Business Enterprise National Council (WBENC), and is listed in FINRA’s Compliance Vendor Directory.

Before founding Elinphant, Elin Cherry was Head of Global Markets Compliance NY for Societe Generale and Director and Head of Business Unit Compliance at CIT. She has held compliance positions at Bank of America, Deutsche Bank and Prudential Securities.