Construction broker to restructure company after business assessment
Kerry London, which specialises in the construction industry, is to shed a number of jobs, writes Danny Walkinshaw.
Senior management at the company, one of the largest independent brokers in the UK, told staff of the changes last week.
Kerry London Ltd – which is part of the Kerry London Group which has 200 staff – would not say how many jobs were on the line.
In a statement it said it had recently completed a strategic assessment of its businesses between now and 2012.
“This review has concluded that the group is well positioned to realise a significant number of profitable opportunities in the UK and internationally,” it said.
“In order to position itself to realise those opportunities, the Kerry London Group is undergoing an internal restructuring to align its businesses into client segments and to ensure that the infrastructure and staff are in place to take full advantage of the growth opportunities identified.”
The group has three main offices: in Middlesex, London and Hertfordshire. It is a believed a downturn in the construction industry has forced the business to cut costs.
As well as Kerry London Ltd, Kerry London Group includes Kerry London Blagrove, a specialist UK motor fleet broker, and online broker platforms Trade Direct Insurance Services and Direct Fleet Insurance Services. Only Kerry London Ltd is thought to be affected by job cuts.
A spokesman said the restructuring had just started and the company was currently going through consultation with staff.
The company has already undergone some changes in the past year. In October, Joe Kelliher, Kerry London’s chairman, appointed Damian Kissane chief executive. He was previously a non-executive director.
In its last published results, Kerry London reported turnover of £11m for the year to 31 December 2006. Operating profit was £141,256. Kerry London Group is No 42 in the Insurance Times Top 50 brokers’ list.
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