Giles director defends lack of shareholder payout
A Giles director has defended the broker after it told its class A and B ordinary shareholders in Expectrum that they won't receive any payouts.
Insurance Age revealed last week that a letter sent by Giles CEO Brendan McManus confirmed that "there are no proceeds available for any payment" following its acquisition by Arthur J Gallagher.
Brokers have since been in contact to vent their disillusionment at the situation, with one source admitting that many shareholders have been left "extremely angry".
However, Paul Dickson, Giles regional managing director for the South of England and a class B shareholder has told Insurance Age that he
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