General insurance and financial services arms merged to be a ‘big force’ in Scotland
Towergate has brought together five business into one office in Glasgow.
The broker has moved 100 staff into new offices on St Vincent Street and put in place a new management team.
The broking giant has brought together and rebranded three general insurance businesses, including: its current Towergate Risk Solutions (TRS) Glasgow office, formerly part of JW Group, which it acquired in April 2007; Macdonald Reid Scott, which it acquired in May 2008; and Peacock Robert, which was formerly part of Broker Network Insurance Brokers (BNIB) – the business it closed last year.
The new office will also incorporate two financial services businesses: Towergate Financial, which was created from the financial services arm of McDonald Reid Scott, and its Albannach business.
Regional managing director Alan McEwan will oversee the Glasgow operation, but could appoint a managing director to oversee the operation once the business has been properly integrated.
The rest of the management includes: corporate director Bernard Dunn, formely managing director of McDonald Reid Scott’s general insurance business; commercial director James Watt, formerly managing director of TRS Glasgow; sales director Dawn Harley, formerly manager of Peacock Robertson; and operations director Stephen Boyd, formerly BNIB regional director for Scotland. The financial services arm is being led by Douglas McIntyre.
McEwan said there had been no redundancies as a result of the move. “We want Towergate to make a statement in the marketplace and become a big force in Glasgow and Scottish marketplace.”
He also revealed Towergate was currently considering a handful of bolt-on acquisitions in Glasgow and the surrounding area.