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Aon Financial is poised for MBO

The world&#39s second-biggest insurance broker Aon is believed to have agreed

a management buyout of its UK financial services operation for £20m.

The MBO of Aon Consulting Financial Services, is expected to be completed

by August.

Sources say it will then trade under the name of Momentum.

Momentum is expected to be headed by ACFS managing director Paul Johnston

and head of operations David James.

The buyout is believed to be backed by venture capitalist Barclays

Pri-vate Equity.

ACFS employs about 100 registered consultants in 11 offices and provides

financial advice to workers at big British companies such as BAE Systems,

Tesco and British Telecommunications.

National IFAs are surprised at the move. They say ACFS has a good position

in the marketplace and it may be entering into a management buyout because

it is looking at other investments.

Aon Consulting marketing manager Anna Mullarkey says: “We are not ina

position to comment.”


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