With new partnership, AML RightSource CEO Frank Ewing sees continued growth in WNY
By Patrick Connelly
Buffalo Business First
AML RightSource last year vowed to increase its Buffalo staff to 100 employees by 2024.
It’s already hit that mark, and CEO Frank Ewing anticipates more growth soon, particularly now that the company has partnered with Connecticut-based investment firm Gridiron Capital LLC.
Cleveland-based AML RightSource’s Buffalo offices are in Larkinville. The company has a variety of products that assist businesses in financial crime compliance solutions and prevention of money laundering.
Companywide, AML RightSource has doubled in size in recent years to about 1,100 employees, Ewing said. He is based in Cleveland but is a Utica native and a graduate of the University at Buffalo School of Law.
“We started to really grow at a pretty rapid pace and compete against some of the large international companies,” he said. “We started to work with, from a client perspective, some of the largest financial institutions and fin-tech companies both domestically and globally.”
Ewing wouldn’t divulge financial details on the partnership with Gridiron but said it would substantially aid the company in its next phase of growth. He said AML RightSource also plans to use the partnership to boost technology and software offerings that will make the work it does easier.
With the backing of Gridiron, Ewing said the company will pursue more opportunities in the United States and overseas.
“I wanted to have those opportunities open up for us, and I think our strategic partner in Gridiron Capital is going to open those doors,” he said.
Ewing said the expansion may bring around 100 more staffers to the Buffalo office. Jobs typically include financial-crime analysts and investigators, as well as managers to guide them. Employees in those roles usually have financial, accounting or banking backgrounds, but he said the firm trains workers with any background if it believes they fit the team.
“The company has done a nice job over the past six or seven months of navigating the new normal,” he said. “We’ve been able to grow through the pandemic, demonstrating our business model and business continuity as we help our clients operate and fight financial crime.
“The move to Western New York was certainly a great one for us, and one that we want to continue to invest in.”
This article originally appeared in Buffalo Business First.