Lorica is back in the corporate advisory space, three years after its employee benefits business was sold to Aon.
James Biggs, who was director of employee benefits at Lorica Employee Benefits prior to its sale to Aon, has been appointed consulting and wellbeing director of the residual company, which has re-entered the employee benefits sector following the expiry of a three-year non-trading restrictive covenant. The Lorica brand has continued to trade as a private client wealth manager under CEO Rhys Francis ever since the Aon deal.
The 2014 deal has led to David Battle, who was CEO of Lorica Employee Benefits at the time of the deal, ultimately becoming CEO of Aon Employee Benefits.
Lorica says it will target employer clients in the 250 to 1500 lives space, and will offer employers HR consulting support, GPP governance and financial educational and wellbeing services.
Biggs says: “We are finding that there are very few consultancies targeting the 250 to 1500 lives space any more – this will be our target. We will not go into healthcare and technology, or group life, but will offer HR support services, robust GPP governance and financial education and wellbeing services.”