Financial services training group theAustralian Institute of Financial Studies(AIFS) has been bought by business publisher and information group CCH Australia (CCH) for an undisclosed sum.
It is understood that CCH’s purchase of AIFS is part of its plan to expand into the financial services training sector, with AIFS able to supply CCH with a range of software, information and online training products.
CCH chief executive officer Willem van Zanten says the acquisition of AIFS will contribute to the company’s objective of becoming a leading supplier to the financial services market.
Van Zanten says the timing of the acquisition is advantageous as it “coincides with governments seeking more regulation of financial institutions and insurers, especially in dealing with customers.”
It is believed that under CCH, AIFS’s initial objective will be to target the financial services sector with a variety of online training subjects. The services AIFS offers CCH includes compliance assessment, employee training, assessment of practitioners without formal qualifications and ongoing professional development of employees.
AIFS’s acquisition is the latest expansion move by CCH. The group has previously acquired Access Communications, Asia Pacific, MAUS Business Systems and Avon Publishing.
Under the deal, AIFS will relocate its offices to CCH headquarters.
