Rees and Carpenter buy back CBG Financial Services

Giles Insurance Group has sold CBG Financial Services back to the duo that originally sold the business seven years ago.

Giles bought all of CBG in September 2011, but has now hived off its financial services arm and sold it back to Steve Rees and Mike Carpenter.

Rees and Carpenter sold Carpenter Rees Jackson to CBG in July 2004 for £720,000, when it was renamed CBG Financial Services.

The firm offers financial planning, pensions and employee benefits. It is based in Manchester and has 17 staff.