UK-based retirement solutions provider Embark Group has completed its M&A deal with insurer Zurich; which saw it buy the Swiss insurer’s retail and investment platform (Sterling Isa Managers), and its authorised corporate director (ACD) and investment management (Zurich Investment Services UK) businesses.
As a result, they have been rebranded and will operate under Advance by Embark for the platform and Horizon by Embark for the investment management business.
Advance will be led by chief executive Phil Smith and chief operating officer Phil Bungey, alongside non-executive directors Pricilla Davies and James Butler.
Whereas Horizon will be headed by chief executive Thomas Rostron, chief commercial officer Fraser Blain, and non-executive directors Monika Machon and Jacqueline Lowe.
People moves
Additionally, Jamie Drewett joined the group as global head of distribution from Zurich, where he served as head of IFA distribution.
Advance chief executive Smith said: “We are very pleased to have successfully concluded these transactions, despite the additional hurdles produced by the covid-19 environment.
“We are equally pleased to see the robustness of the business through the recent and ongoing market volatility emanating from this situation.
“Our attention is now firmly on business continuity and servicing our new clients and distribution partners, enhancing the proposition we provide, and continuing to safely grow our competitive presence in this exciting market.”
