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Investment bankingJuly 31 2007

Diligence from a different source

For all banks investing overseas, good due diligence is essential. No wonder companies with names such as Diligence are appearing alongside the more familiar Krolls and Control Risks.
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“One of the features of globalisation is that it means people are doing business with people they don’t know in countries they don’t know much about and they need good information,” says Michael Howard, a former leader of the UK’s political opposition and now on the advisory board at Diligence.

The company distinguishes itself from its competitors by placing more emphasis on official, rather than commercial or open-source information for its reports. “This kind of information can be misleading and we have a different information network from our rivals,” says managing director Russell Corn. He’s definitely in a growth business.

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