Howden, an insurance and risk advisory group, has agreed to acquire Evelyn Partners Financial Services Limited, the employee benefits consultancy division of Evelyn Partners, a UK-based wealth management and professional services firm.
The acquisition is intended to expand Howden’s employee benefits and corporate health services in the United Kingdom. Completion of the transaction remains subject to regulatory approval and is expected in the first quarter of 2026.
EPFS provides consultancy services to a diverse client base, with particular focus on mid-sized, scale-up, and fast-growing organisations. Its work includes advising employers and trustees on group risk and healthcare benefits, employee engagement and communication, wellbeing, and a variety of ancillary benefits.
The EPFS team, comprising 38 employees based in London, Bristol, Glasgow, and Guildford, is led by Gareth Sawyer, Head of Employee Benefits at Evelyn Partners. Upon completion, the team will join Howden in early 2026, with Sawyer reporting to Cheryl Brennan, Managing Director, Howden Employee Benefits.
This follows Howden’s acquisition of Barnett Waddingham in March 2025, which expanded its global employee benefits and pensions advisory capabilities. The combined operations now consist of around 4,000 professionals across 40 countries, with total revenues exceeding £500 million.
Brennan commented: “EPFS bring a highly experienced team with an excellent reputation and a culture that mirrors our own. This acquisition reinforces Howden’s investment in our market-leading, full-service employee benefits proposition, strengthening our ability to deliver fresh thinking and trusted advice for corporates seeking a global employee benefits broker with a client-first approach.
“We’re delighted to welcome the EPFS team and to build on our strong relationship with the wider Evelyn Partners group as we continue to grow our scale and impact in the corporate health and benefits market.”
Sawyer said: “Howden is an impressive business and will be an excellent long-term home for the team and the clients we serve through access to Howden’s wider proposition offering and global presence. The deal provides clarity on our future and will bring exciting opportunities as we become part of a global organisation that has grown to become one of the UK’s largest employee benefits specialists.
“Our clients can expect business as usual, with the team remaining focused on delivering high quality advice to help them attract and retain talent in a competitive market, while retaining a close relationship and continued collaboration with Evelyn Partners.”
Paul Geddes, CEO, Evelyn Partners, added: “The sale of our employee benefits consultancy further streamlines Evelyn Partners’ range of activities as part of our strategic decision to focus solely on wealth management. This transaction follows on from the successful sales of our Professional Services and Fund Solutions businesses, both of which completed earlier this year.
“Howden will be a great long-term owner of this business, providing new opportunities for our employee benefits team and continuity of the services they provide to clients. I would like to thank the team for the contribution they have made to our business over many years and wish them well for the future as part of Howden.”
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