Insurance brokerage Jardine Lloyd Thompson Ireland (JLT Ireland) is reportedly planning to buy Liberty Asset Management from Friends First for an undisclosed sum.
The acquisition will provide JLT a platform to boost and develop its employee-benefits service in the Irish market.
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Under the deal, JLT Ireland will also acquire Freedom Trust Services (FTS), a pensioner trustee company of Liberty Asset Management, reported The Irish Times.
JLT Ireland CEO Patrick Howett said the transaction will make JLT a significant force in the Irish employee-benefits sector.
"With the move from defined-benefit to defined-contribution schemes we are confident this is the perfect time, and Liberty provides the perfect vehicle, to bring our comprehensive suite of services to a new client base," Howett added.
Founded in 1996, Liberty Asset Management now employs 38 staff.
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