Towergate Partnerships has decided not to rebrand Sterling Hamilton Wright, the Lloyd's broker it acquired in November.

Discussions had taken place among senior managers to change the name to Folgate Edgar Hamilton but the change was shelved last week.

A Towergate Partnerships spokesman said: "We are not going to make a decision for at least a year. We decided that it was too close to the merger and as we have yet to finalise the branding of the entire group, it would be impractical to change the Sterling Hamilton Wright brand at this stage."

He confirmed that 14 redundancies had been made at Sterling Hamilton Wright due to a "duplication of roles". Managing director of Towergate Partnerships Kenny Mciver and ex-managing director of Duncan Pocock, John Marshgreen, are overseeing the staff integration of Towergate's Aldgate office into Sterling Hamilton Wright's Docklands office.

The spokesman denied rumours that Marshgreen was set to retire once the integration was complete. Sources said Marshgreen might be offered a role in the new Towergate operation early next year. It is understood Sterling Hamilton Wright managing director David Hughes will remain with the company until February 2005.