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Owners review Willis Nat

Abbey National and Willis Group are believed to be reviewing their shareholdings in national IFA Willis National which has around 120 registered individuals in 20 offices.

It is understood that Abbey Nat, which owns 49 per cent of Willis National, is considering selling to focus on developing its Inscape wealth management service and subsidiary Cater Allen private bank.

Willis Group, the international risk management, insurance and financial consultancy which floated this week on the New York stock exchange, owns 51 per cent of Willis National.

Willis National was formed in 1997 by the merger of Willis Corroon Financial Planning and Abbey National IFA.

Willis National spokesman Gug Kyriacou says: “We cannot comment on market rum-ours. Both Willis and Abbey National are impressed by the very strong Willis National management team who are doing an excellent job in developing the business. We are pleased with the strategy and Willis National continues to receive strong investment introductions through their IFA network.”

Willis Group declined to comment further.

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