Lawrence Scoffield in demerger
YORKSHIRE-BASED Lawrence Scoffield Group has undergone a demerger separating its general insurance and wealth management divisions.
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.
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) from existing offices on South Parade in Leeds.
The demerger will allow them to give their full attention to providing personal financial planning to those with above average income or capital as well as providing employee benefit advice to companies. The firm employs 14 staff.
Mr Narey commented: “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.”
Mr Fraser said: “We look forward to welcoming both existing and new clients to experience a professional and proactive insurance broking service. Having over 30 years’ experience, Lawrence Fraser Brokers will undertake full brokering of clients’ insurance needs and provide claims assistance in the event of an unfortunate loss.”
Rachel Dean of Leeds law firm Clarion acted for the holding company Lawsco Holdings Limited with Clive Smetham of Sagars providing corporate finance advice.
Marcus Armstrong of Shulmans acted for Lawrence Fraser Brokers and James White and Geoff Thomas of Brown Butler provided corporate finance advice.
The Co-operative Bank, with a team led by Steve Clarke, supported the demerger and continues to support all companies with Jonathan Simms of Clarion advising the bank.
Mr Narey added: “The team of Yorkshire advisers we worked with helped the process to run as smoothly as possible.”
