Oval chief downplays Vela senior management consultation
Oval chief executive Peter Blanc has downplayed launching a consultation with some senior management at its underwriting subsidiary Vela.
A consultation - involving seven Vela managers - began on Monday and is expected to last 30 days.
But Mr Blanc has moved to allay any concerns sparked by the decision to explore potential job losses, and sought to put the announcement into perspective.
"Out of 1,250 staff at Oval, we are consulting with seven," he told Insurance Age. "It's something and nothing, we are doing a small bit of restructuring, streamlining and we are consulting with a few members of staff."
Vela was launched last year
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