Openwork partners take controlling stake after Zurich 'separation'
Insurance giant divests 25% shareholding
Mark Duckworth: "To be doing this independently – to have our destiny in our own hands – is exciting.”
Zurich has divested its 25% shareholding in Openwork, meaning the UK's largest financial advice network is now majority-owned by the Openwork Partnership LLP, which represents member firms.
The culmination of a strategy set out by Zurich when it created Openwork in 2005 will see the latter's employees retain a minority shareholding through an employee benefit trust. Openwork chief executive...
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