Heath Lambert Group confirmed this morning that it had ended merger talks with Jardine Lloyd Thompson.
Discussions had been taking place for a number of weeks with the view to JLT buying the rival broker.
Heath Lambert Group chief executive, Adrian Colosso said:
"We began discussions with the aim of combining our increasingly successful business model with the additional resources of JLT. As discussions progressed we became less confident that we would be able to continue with this model and therefore less confident of achieving the objective. Proceeding would not have been in the best interests of our staff or our clients."
He added: "The Heath Lambert way of doing business, focusing more on clients and empowering our people to get on with things, is what has led to our turnaround. We will continue to build on our success and to grow and will remain a strong independent for as long as it is in the best interests of all our stakeholders."
