Clarification

Following an article in June's PB profiling Heath Lambert's chief executive Adrian Colosso, PB would like to clarify that Steve Crowley is the founder of Crowley Colosso, originally SJ Crowley. Mr Crowley started trading in March 1985 and built the business into a successful Lloyd's broker before selling it to Lowndes Lambert in November 1992. Mr Crowley held the roles separately of both chairman and chief executive and was the sole beneficiary of the majority shareholding throughout the entire period. The broker's name was changed to Crowley Colosso in 1989, four years after Mr Colosso joined, honoring a verbal undertaking by Mr Crowley to do so if and when Lloyd's broker status was achieved. We would like to apologise for any inconvenience that our article may have caused to Mr Crowley.