Scoffield splits divisions in demerger

INSURANCE broker and wealth management advisory firm The Lawrence Scoffield Group has undergone a demerger, separating the general insurance and wealth management divisions.
By The Newsroom
Published 22nd Jan 2013, 06:00 BST

Lawrence Scoffield General Insurance has split from the group and is now wholly owned by two of the original group shareholders, Paul Lawrence and Andrew Fraser.

The firm will trade as Lawrence Fraser Brokers from offices in Park Square, Leeds, and Berkeley Square, London, providing commercial insurance for companies and personal insurance for directors.

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Sean Narey, Stephen Thompson and Neil Moles will continue as the shareholders of the original group, which will continue to run The Lawrence Scoffield Group (Wealth Management), which employs 14 staff, from existing offices on South Parade.

Mr Narey said: “This corporate restructuring will allow both parts of the original group to focus on what they do best, run by the people who understand them best.

“For our clients, it’s very much business as usual – Neil, Stephen and I will continue to own and run the firm, providing the personal, independent financial advice upon which we have built our reputation.”

Local advisers were involved in securing the deal. Clarion acted for the holding company Lawsco Holdings with Sagars LLP providing corporate finance advice. Shulmans LLP acted for Lawrence Fraser Brokers and Brown Butler provided corporate finance advice. The Co-operative Bank supported the demerger and continues to support all companies with Clarion advising the bank.