RBSI gives green light to Devitt Insurance Services MBO
RBS Insurance (RBSI) has agreed to sell Devitt Insurance Services to three of its existing senior management team, led by managing director William Hughes.
Along with Mr Hughes, finance director Tony Chapman and executive director Stephen Kiefer were involved in the management buyout (MBO).
The three directors are equal partners and sole owners of a holding company CKH, which they established to work through the MBO.
Mr Hughes said the funding was in place but was confidential in nature.
"When RBSI made it known that it planned to divest the business, we had a choice to either throw our hat into the ring or allow the business to be sold to a third
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