Specialty Finance

Specialty Finance Open
Specialty Finance Open
Client Description Counterparty
Advised Openwork LLP on the renegotiation of Zurich’s equity and debt investments in Openwork.
Advised Oakley Capital on the sale of Broadstone to Livingbridge.
Advised Primary Group on the sale of Lorica Employee Benefits to Aon.
Advised Sanlam on the sale of its shareholding in Intrinsic Financial Services to Old Mutual Wealth.
Advised Investec Specialist Bank on the sale of the Investec Trust Group to Salamanca Group.
Advised AXA on the sale of Bluefin Personal Consulting to Towry.
Advised AXA on the sale of Bluefin to Capita.
Advised Openwork LLP on its capital restructuring with Zurich.
Advised the Kyte Group on the sale of a majority stake to GFI Group.
Advised the partners of Drydens, a debt litigation law firm, on the sale of the firm to a private buyer.
Advised Liverpool Victoria on the sale of its financial advice business, LVFAS, to Lighthouse Group.
Advised London Stock Exchange on the successful defence against an unsolicited offer from NASDAQ.
Advised Yorkshire Building Society on its acquisition of Abbey National’s Sharesave Scheme.
Advised Cube Financial on its sale to Fimat.
Advised London Stock Exchange on the successful defence against an unsolicited offer from Macquarie.
Advised Henderson Group on its sale of Towry Law to JS&P and Palamon Capital Partners.
Advised London Stock Exchange on the successful defence against unsolicited offers from Deutsche Borse and Euronext.
Advised Xchanging on its acquisition of RebusIS
Advised BWD Securities on the sale of its Administration Services Division.
Advised Intertrust on its sale to Fortis.
Advised Cazenove on its incorporation.
Advised MG Group plc on its acquisition by Enron.
Advised Yorkshire Building Society on its sale of YorkSHARE to TD Waterhouse.
Advised Hambros on the sale of its investment bank to Société Générale.
Advised SG Warburg Group Plc on the sale of its investment bank to Swiss Bank Corporation.
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Advised Openwork LLP on the renegotiation of Zurich’s equity and debt investments in Openwork.

Counterparty

Fenchurch is pleased to have advised the Openwork LLP on the renegotiation of Zurich’s equity and debt investments in the Openwork network. The Openwork LLP represents some 600 adviser firms and 3,000 advisers.

Under the terms of the agreement, Zurich will dispose of its 25% stake in Openwork by March 2020, by transferring it to the Openwork LLP, which is already the major shareholder.

The agreement provides a path to full ownership for the partners and staff, whilst at the same time protecting the network by retaining the capital and commercial support of one of the world’s largest insurers.

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Advised Oakley Capital on the sale of Broadstone to Livingbridge.

Counterparty

Fenchurch is pleased to have advised Oakley Capital on the sale of Broadstone to Livingbridge.

Broadstone is a leading, mid-market employee benefits consulting firm based in London.

Broadstone provides pensions, employee benefits, actuarial and investment consulting advice to small and medium sized employers, pension scheme trustees and individual pension scheme members.

 

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Advised Sanlam on the sale of its shareholding in Intrinsic Financial Services to Old Mutual Wealth.

Counterparty

Fenchurch is pleased to have advised Sanlam on the sale of its stake in Intrinsic Financial Services to Old Mutual Wealth for an undisclosed sum. 


Intrinsic is one of the UK’s largest networks with c.3,000 restricted and independent financial advisers.
 


Lukas van der Walt, Chief Executive of Sanlam UK, commented: “We engaged Fenchurch to help us evaluate our options in the context of an approach for our stake. We were very pleased with the framework they developed and the final terms that we secured.”

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Advised AXA on the sale of Bluefin Personal Consulting to Towry.

Counterparty

Fenchurch Advisory is pleased to announce that it advised AXA on the sale of Bluefin Personal Consulting to Towry for an undisclosed sum.

BPC offers financial planning and wealth management services to individuals from its offices in London, Cardiff, Telford and Knutsford. It currently advises around 1,500 clients with assets of £500 million.

Fenchurch previously advised AXA on the sale of its employee benefits business, Bluefin Corporate Consulting, to Capita in 2012.

Paul Evans, Group Chief Executive of AXA UK, commented: “Fenchurch’s strong sector relationships helped to identify an ideal partner for BPC, ensuring a high degree of continuity for clients and employees. We were impressed with the depth of commitment and quality of advice that Fenchurch provided over an extended period.”

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Note – includes transactions advised on by Fenchurch team members at predecessor firms