The Latest In Wealth Management M&A – Howden, Barnett Waddingham

The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Howden, Barnett Waddingham

Howden, a global
insurance and employee benefits intermediary group, has
just acquired Barnett
Waddingham, a UK professional services consultancy which
manages risk, pensions, investment and insurance.

The acquisition will bring pension and related advice capability
to Howden, providing a platform for expansion in global markets,
the firm said in a statement.

The acquisition will also double Howden’s global employee
benefits business in terms of employees, with about 4,000 experts
generating a combined revenue approaching £500 million ($647
million) worldwide. The merged business will offer a range of
employee benefits and pensions advisory services to corporate
clients, from multinational corporations to small and medium
sized enterprises (SMEs) in the private and public sectors.
It will also provide health, life and specialist pension
products to individuals. 

Over the last five years, Howden has made investments worth £2.4
billion to expand its UK footprint. 

“As we always do, we have waited for the right partner to expand
our capabilities, with experts who are entrepreneurial and
culturally aligned, and with whom we can do more together,” David
Howden, CEO, Howden, said. “Together, we will take a leading
position in our home markets of the UK and Ireland in employee
benefits as well as in insurance broking. In the UK, there will
be over 10,000 of us in our wider business, across more than 200
offices. We’re serving millions of individuals, businesses and
organisations, including over two-thirds of the FTSE
100, bringing the same unique energy and approach to all our
clients.” 

The group operates in 55 countries across Europe, Africa, Asia,
the Middle East, Latin America, the US, Australia and New
Zealand, employing 20,000 people and handling $44.7 billion of
premium on behalf of clients.

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