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Wednesday, 21 January 2015

Towergate sale enters final furlong as Cullum and Homer fall behind frontrunners

Insurance publication, Post Magazine reports that…

Peter Cullum and Andy Homer's hopes of reacquiring Towergate look set to be dashed as the broker seeks to bring an end to a lengthy sale process. Cullum and Homer, the founder and former CEO of the broker respectively, are known to have been exploring a bid for the embattled business, however, sources have told Post the duo are now considered rank outsiders as talks continue with US private equity businesses and global broking giant Marsh…

For staff and customers, the roller-coaster trundles along with all of the associated uncertainty.  Becoming part of global broker, Marsh, is probably the most positive outcome, but that will certainly entail UK redundancies as Marsh already has extensive UK operations.

Watch this space as the story unfolds – it seems to be coming to a head pretty swiftly now after months of seemingly rudderless drifting.

Here is an amusing little story here about Towergate and the original retirement of founders Cullum and Homer in 2011 – and a short cartoon. Shame the film seems to have been viewed once and the lost!  Still the picture (left) is a pretty fair representation of the good Mr Cullum and the equally good Mr Homer! 

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