NYSE-listed company Arthur J Gallagher has entered the Australian financial services industry with the acquisition of a Brisbane-based financial advice and employee benefits consultancy.
One of the world’s largest insurance brokerages, Gallagher has announced it has acquired Complete Financial Balance, a corporate authorised representative of Aon Hewitt Financial Advice specialising in wealth management, superannuation and employee benefits.
The firm will continue to be managed by Graham Campbell and Tapel Cafer, who will now be reporting to Leslie Lemenager, head of Gallagher’s international employee benefit consulting and brokerage business.
"We are particularly excited to have completed the acquisition of CFB, our first employee benefits acquisition in Australia," said J Patrick Gallagher Jr, chairman, president and CEO of Gallagher.
"Their team's solid culture, similar business model and commitment to delivering the highest professional standards will be a wonderful addition to our employee benefits consulting operations. We are pleased to welcome Graham, Tapel and their colleagues to our growing Gallagher family of professionals."
Headquartered in Itasca, Illinois, the company has operations in 33 countries and conducts business in more than 150 countries.
The wealth giant’s shares are in a trading halt as it prepares a capital raise, with rumours swirling that it is set to acquire MLC. ...