Industry insiders have confirmed Friend's Life is touting for bidders for Sesame Bankhall Group as the insurer continues its broader cost-cutting and restructuring plans.
A Sesame Bankhall spokesman refused to comment on "speculation", however, IFAonline's sister-title Cover confirmed redundancies last week among senior management at Friend's Life including its strategy and new propositions director, Iain Mallon and Tim Fox, head of national accounts. Friends Life reported 150 jobs were under threat last December, with 50 vacancies that would not be filled. Barclays has been appointed to gauge interest in the market, with a management-led buy out thought to be a strategic option for the firm. Sesame Bankhall Group's latest results, with its next res...
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