The Courier & Advertiser (Fife Edition)
Jelf moves for Perth broker Clark Thomson
TAKEOVER: 200 staff at Scotland’s largest independent to transfer to new employer
Insurance broker Clark Thomson has been bought out by national group Jelf in a deal that secures the jobs of all 200 staff at the group, which has its HQ in Perth.
The move, completed for an undisclosed fee, gives Jelf a strong foothold into the main Scottish territories in which it did not previously have a physical presence.
Clark Thomson was founded in 1965 and has grown to be Scotland’s largest independent operator, with nine offices throughout the country including Perth and Dundee.
Jelf, which is itself part of Marsh & McLennan Companies (MMC), is focused on the mid-size and SME market and has more than 3,000 staff in 75 locations across the UK.
Jelf chief executive Phil Barton said the origins of the deal extended back almost two years to informal conversations between himself and Clark Thomson managing director Ben Bailey.
He said it quickly became clear the two companies had similar outlooks and cultures and their respective geographic footprints were complementary to one another.
“When we were looking at Scotland we found we were under represented in what is a really important market,” Mr Barton said.
“When Ben and I started talking about our respective businesses, it became evident the culture of the firms was incredibly similar and there was a great geographic fit. We are a growth business and our ambition is to be the largest and best player in our marketplace.”
The new combined business will be led by Mr Bailey and it is expected to trade as Jelf Clark Thomson.
Mr Bailey said there would be no change to existing client relationships, other than the new business being able to offer more options to its customers.
He added that staff had been informed during morning sessions yesterday and were upbeat at the prospect.
He said: “Through Jelf, our clients will have access to a wider range of services and solutions, while colleagues will benefit from being part of Marsh’s wider global network. I look forward to bringing Jelf and Clark Thomson’s operations together, and building the leading advisory business in Scotland.”