Heath Lambert announced a major restructuring as chief David Margrett stepped down.

Margrett handed over to Ian Martin who became executive chairman.

His departure follows the failure of Heath Lambert to find a buyer. Willis and Marsh are believed to have looked at the broker and walked away.

The management shake-up brought in Adrian Colosso to become UK managing director from his post as head of global broking.

Mike Bruce, UK chief operating officer, and Surinder Beerh, MD for overseas, would help Colosso with day-to-day management.

Finance director Richard Sansom stayed on in his role.
Martin said: "These changes, combined with a capital restructuring, mark a new phase in the development of the business and this will allow us to develop the group as a major independent force in the international insurance broking market.

"All the ingredients are in place and we are fortunate to be supported by a team of people of the highest quality."

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