Former Swinton boss planning to get back into the industry
Former Swinton chief executive Peter Halpin doesn’t believe that his reputation has been tarnished as a result of being sacked from the board.
He said he was planning to get back into the industry, possibly with former board members Anthony Clare and Nick Bowyer, and he has spoken to a number of private equity firms keen to back acquisitions and start-up projects.
“Obviously I have not been totally idle for the last two months and I have been looking at a number of different opportunities as an individual and with former colleagues from Swinton within the corporate world but also looking at some opportunities in private equity,” said Halpin.
Halpin and his board were dismissed in December 2011 by French parent company Covea in a dispute over the board’s performance-related share scheme payments due to be made in the first quarter of this year.
The five sacked board members were chief executive Peter Halpin, marketing director Bowyer, finance director Clare, operations director Jackie Ordish and IT and business change director Adrian Hazeldine.
Halpin said: “My experience is in personal lines and in retail and that’s where most of my attention has been directed, but there have been opportunities that I have looked at as well in the commercial lines sector and underwriting.”
Halpin said that Ordish had planned to retire and travel and do charity work, while Hazeldine was looking at a number of options but was in no rush to get back into the market.
He said that Clare and Bowyer had been actively looking at a range of opportunities both individually and as a group.
“It is relatively unusual that a team comes out of one organisation together, so it’s been good to have a look at opportunities as a group and individually,” said Halpin.
Halpin said he had been cheered by the response received from former colleagues and contacts in the industry.
Asked if the sacking had damaged his reputation, he said: “It doesn’t appear to have done. The response we have received has been good and people are keen to talk to and support us, and we are grateful for that.”
Halpin said he couldn’t comment specifically on the settlement or talk that the ex-Swinton executive team was lining up a swoop for Groupama’s Carole Nash broking business.
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