MD quits Inter-Alliance after De Vere's £750,000 takeover

Brian Cosgrave, managing director of Inter-Alliance International (IAI), has left the intermediary f...

Brian Cosgrave, managing director of Inter-Alliance International (IAI), has left the intermediary firm and network following its £750,000 takeover by De Vere & Partners. There has also been further takeover activity in the international broker market with Clerical Medical International (CMI) increasing its stake in German network Securum to 51%. Paul Tebbutt, chief executive of Millfield, said though IAI made a £300,000 profit in the last year, his firm had decided to focus on the UK market. He added: "The sale of IAI has helped us reduce Millfield's cost base from £49m on 1 December 2...