Jobs are under threat at Gallagher Employee Benefits as the business moves to centralise some operations following its acquisition of Oval earlier this year.
Arthur J. Gallagher & Co, the US parent of UK firm Gallagher Employee Benefits, acquired commercial insurance broker Oval for £199m in April.
Gallagher Employee Benefits has 300 staff, 140 of which work for Oval.
Earlier this week Money Marketing reported Peter Blanc, former Oval chief executive and head of Gallagher’s UK retail division, has left the firm.
Gallagher has now confirmed that Peter Osborne, Oval’s financial services investment director, has also stepped down.
The firm says it is centralising some support services in Gallagher Employee Benefits which may lead to redundancies.
A Gallagher spokesman says: “We are looking to centralise some support services in Gallagher Employee Benefits which may result in redundancies, but we will seek to minimise these wherever possible by redeploying staff if we can.
“It is not our policy to discuss redundancies directly with third parties when the issue is the subject of current collective consultation.”
It is also understood that neither Gallagher Employee Benefits nor Oval will be having a Christmas party this year.