Towergate keen to keep shopping for businesses
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Towergate Financial says it is on the acquisition trail for mortgage firms, following its purchase of John Charcol last year.
The firm acquired the brokerage from administration in February 2010 for £1.3m. A spokesman for Towergate Financial says it is not in talks with any firms but is seeking acquisitions following the £200m investment in its parent Towergate Partnership in January by equity firm Advent International.
Towergate Financial revealed its intentions last week as it announced that its new chief operating officer was Warren Page, former director of client services at Origen Financial Services.
Dan Saulter, chief executive of Towergate Financial, says: “We are entering an important stage in the development of our business and to attract someone of Page’s calibre to lead our financial planning arm speaks volumes for our plans.
“We are looking for new advisers and to acquire good businesses to grow the company. With Page’s experience in running a national operation I am confident we can expand quickly.”
Meanwhile, Towergate Financial has promoted its director of strategic accounts Paul Chafer to the new role of corporate development director. Reporting to Saulter, his brief will be to seek out and deliver corporate projects and major distribution opportunities.
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