New Combined Division for Henderson Insurance
Expansion continues as competitors contract and consolidate
Henderson Insurance has announced the creation of new division, Henderson Employee Benefits, based at the Lawnswood former HQ of Denney O'Hara (Life & Pensions) Ltd, acquired by Henderson in Spring 2010.
The new HEB division combines the Denney O' Hara business with Henderson's previous Healthcare and Employee Benefits arm. Five Healthcare staff have moved across from the Leeds corporate office to swell the ranks of the new unit, and four more have since been recruited.
"This brings the total number employed in this division to 26, up from the 18 employed at Denney O'Hara at the time of the acquisition," said Henderson director Ian Dearnley, 44.
"The market conditions have seen other forms contracting while Henderson expands, so we have been able to cherry pick the best talent. I think it's a positive message that we are taking people from the big boys."
Ian himself was recruited just over a year ago from Aon, where he was Principal at the Leeds office and had spent 21 years of his career. Three other Henderson recruits - Associate Director of Risk Benefits Dave Farebrother, Pensions Consultant Kathryn Bastow and Stephen Carr, an Associate Consultant, have also since joined from Aon.
Mike Picken, 34, HEB Head of Healthcare, commented: "The key to the success of the Health Care team over the eight years we've been established is that about 95 per cent of our clients have come from the existing Henderson client bank, which shows that, as well as our professional client delivery, our colleagues on the general side must be doing something right, since clients are prepared to entrust new services to us."
Ian Dearnley was equally emphatic about the way Henderson was continuing to grow against the run of the play in the industry:
"It proves that we offer a very high-quality service, very uch in keeping with the whole Henderson ethos. We are here to provide services to that vast Henderson client bank, and HEB is based on the retention of clients, whereas many of our competitors put the emphasis on sales and new business, almost at the expense of looking after existing clients.
"We genuinely do put the client first. A lot of competitors say they do it too but I think all the offices of Henderson do go that extra mile, We can often form an integral or strategic part of the client's HR function.
"It's not rocket science but very few people have grasped it. A lot of competitors focus only on one aspect, such as health care or pensions. But what we have now is critical mass - one team working in one location but with a vast array of expertise, which is close to unique in the market. We are lookign at a national presence."
Brian Denney, Henderson Employee Benefits Chairman, commented: "I am delighted with the commitment Henderson have already shown to becoming a major force in the financial advice arena. Clients need a professional advice service delivered with integrity and the clients' long-term interests at the centre.
"This has always been the Denney O-Hara ethos and I am peased to say that the recruitment of high-quality staff and commitment of the existing team, this will continue to be the Henderson Employee Benefits ethos.
"Directors Steve McDermott and Sharon Vodden, who are both Fellows of the Pensions Management Institute and hold prestigious Charterd Financial Planner status, look forward to offering their cutting-edge financial planning and group pensions advice to a wider audience.
The four newest members of the newly-created division are:
- Account Executive Martin Lloyd, 54, formerly of PHP
- Associate Consultant Stephen Carr, 28
- Healthcare Administrator Louise Pratt, 21 - all three based at the Lawnswood Office
- Account Executive Nick Pratt (no relation), 50, based at Henderson's Kirmington Office