View more on these topics

Jobs at risk at Gallagher Employee Benefits after Oval deal

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.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. It’s a shame as there were some good people at Oval – advisers, paraplanners and support.

    It would also be interesting to know what else has happened in the background regarding Oval and Randall & Quilter given that R&Q perhaps seems to have taken on past advice liabiliities???

  2. I think it is otherwise known as asset stripping, you do not have to read to far between the lines to see this was not an acquisition made in heaven. Quite the contrary ! Sail the liabilities off into the sunset, actively neglect your staff and let them walk and when they do take them to court for alleged solicitation, because you can… Meanwhile the poor clients are left stumbling about wondering what on earth is going on. I can guarantee that the adviser fees continue to be taken despite the lack of service. Every other large american insurance broker has walked away from financial services, clearly Gallaghers have not learnt from history, shambles …..

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com