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Towry Law says it is not up for sale

Towry Law says it has no plans for a sell-off under the new Henderson Group structure following the sale of Henderson Life Services business.

Despite rumours that Towry Law is looking to end its relationship with Henderson Group, press relations director Fiona Cornes says it will continue to operate as a stand-alone business within the group and it is not up for sale.

Cornes says the firm will continue to operate independently as its relationship with Henderson is at a corporate level only, a legacy from the AMP days.

HHG chief executive Roger Yates says there are no plans to put Towry Law up for sale and it will be focusing its efforts on developing as an effective standalone business following the closure of Towry Law International earlier in May.

Henderson Group will now comprise Henderson Global Investors and Towry Law, whose combined business unit operating costs were 25m for the six months ended June 30.

ornes says: “The key things for 2005, as with all financial services businesses, are depolarisation and the menu system. We are in good shape for 2005 and the challenges we face are the same externally as everyone else.”

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