Bankhall has made six senior appointments to reinforce “its long-term commitment and support to the IFA sector”.
The move has fuelled speculation that the support firm wants to stay independent and could be preparing an management buyout. Parent Lynx said it was in talks with a potential buyer recently. The Bankhall board has around a 20 per cent stake in Lynx, valued at £178m. Its £63.2m turnover is 28 per cent of Lynx's £224.2m turnover.
New head of sales development is Scottish Amicable sales director Peter Mann, Axa Sun Life key account director Paul Harrop becomes head of sales development and ScotAm regional account manager Guy Peters and former Tenet Group development manager Derek Reynolds become business development managers.
Mike Buckley from Royal Sun Alliance and Anthony Bass from Tenet join Point One mortgage support company in business and sales development.
Cap Gemini Ernst & Young head of insurance Shaun Crawford: “An MBO could well be a possibility. The guys who run Bankhall really believe in it and would not want it going into the wrong hands.”