Former Smart & Cook chief joins ambitious Prosperis
THE former chief executive of insurance group Smart & Cook has invested in and become chairman of Yorkshire IFA firm Prosperis which is targeting rapid growth through acquisitions.
Paul Meehan, who built up Smart & Cook Group through 55 acquisitions before selling it to AXA in 2007, will be executive chairman at Prosperis working with managing director Niall Gunn to grow the Leeds-based independent financial advisory firm.
Mr Meehan joined Smart & Cook in 1987 when it had 23 employees and brokerage of less than £1m, becoming group MD in 1991 and chief executive in 2004.
Along with the firm’s founder Geoff Cook, he brought 3i into the business in 2004 with a £30m investment to finance a buy and build strategy.
After Mr Cook’s untimely death in 2005 Mr Meehan continued its acquisition plan with 16 deals before selling to AXA in April 2007 when he joined the main board of AXA Insurance for two years.
Niall Gunn, managing director of Prosperis, commented: “Paul will be of enormous help in fulfilling our aspirations to grow profitably. I am looking forward to having the benefit of his experience. I am convinced that we can meet our ambitions through carefully targeted acquisitions.”
Mr Meehan said: “My career since AXA has been around advising and mentoring high growth businesses. Working with Niall in the financial services field presents many acquisition opportunities. We intend to take advantage of these.”
Mr Meehan has previously held non executive roles at Nunwood Consulting, Cooke & Mason, SME Insurance, Romero Insurance Brokers and Lorica.
