Smith Ross Shane & Co and Greenfield Risk Services haved merged to create a specialist broker
Two brokers, Smith Ross Shane (SRS) and Greenfield Risk Services (GRS), have revealed they are set to merge, forming Smith Greenfield Services.
The new company will have a Gross Written Premium of £3million, with projections for this to grow to £13million by 2012. The merger makes Smith Greenfield one of the UK’s leading High Net Worth brokers.
The new company will build on the expertise of SRS and GRS, focusing on generating revenue through the High Net Worth (HNW), Commercial and HNW Wholesale sectors. Smith Greenfield will be headed up by SRS managing director, Steve Smith and GRS managing director, Giles Greenfield. They will be based in new offices in Surrey.
Steve Smith said: “The two companies have worked closely together, and the decision for them to merge is testament to the confidence both Giles and I have in the potential for growth in the two businesses coming together. Joining forces to create Smith Greenfield will enable us to consolidate and substantially grow our existing revenue streams.”
Giles Greenfield added: “Real opportunities exist to achieve greater penetration into each of our specialist sectors. High Net Worth is currently our most established area of business, but independent research has highlighted that, to date, only a fraction of this market has been tapped into*. In the Commercial sector, Steve and his team will be initially focusing on professional services, IT and the construction industry and we have already been working together on a High Net Worth Wholesale joint venture, which will form a division of Smith Greenfield and will incorporate a substantial part of our growth plan.”
