Two Riverbourne directors leave for Northern Alliance

Riverbourne managing director Nick Plowman has bought the shareholdings from two directors, who have resigned and left for a another broker.

Plowman bought a stake of around 20% from directors Nicholas Jamieson and Daniel Lane, who resigned this month and have now joined Northern Alliance Insurance Brokers.

Jamieson and Lane each have a 35% stake in Northern Alliance’s Insurance Brokers parent company, called Alliance Insurance Holdings.

Plowman said the original intention was for the two directors to sell their shares in Alliance Insurance Holdings, so they would have the money to buy up more shares in Riverbourne.

However, he said the sequences of deals never came off, and their departure was a friendly one.

Riverbourne has two offices, a head office in Caterham, Surrey, and another office in Leeds. Northern Alliance is based in nearby Dewsbury, although Plowman stressed there would be no conflict for business between the two brokerages because they targed different areas of commercial SME.

Nigel Davies, previously national sales manager for Premier Line Direct, has joined Riverbourne as northern new business development manager.