Gallagher has officially retired the Buck brand, as part of its efforts to unify the organisation and align its operations under a single identity.
According to CEO of Gallagher’s employee benefits & HR consulting division in the UK David Piltz, the integration process has transformed the organisation, enhancing its capabilities across diverse business functions such as employee benefits and financial services.
Clients & philosophy
Gallagher acquired legacy Buck in a £543m deal which was completed early last year. Buck had been in business for more than 100 years with over 2,300 employers, including more than 220 actuaries.
Gallagher’s benefits & HR consulting division employs 7,000 team members while the global brand employs 52,000+ following the acquisition with further deals not being ruled out, according to Piltz.
Piltz transitioned from his previous position as UK managing director at Buck in September last year and now oversees both sides of the integrated organisation.
Speaking to Corporate Adviser he emphasises Gallagher’s comprehensive approach, integrating insurance broking with client solutions across diverse organisational needs. He mentions the strategic advantage gained from integrating Buck into the business, enhancing its capability to address both insurance and people strategies.
He says: “Both parts of the organisation bring real strength and depth in key skill sets. Legacy Buck had quite a large actuarial, investment consulting, and pensions administration organisation, particularly for large defined benefit and defined contribution plans in the UK.”
He says there has been a positive reception among legacy Buck clients and stakeholders, emphasising the cultural alignment and supportive environment fostered by Gallagher.
He says: “Our clients have been very supportive. I think they’ve seen that the culture of the legacy Buck team and the Gallagher team are very much aligned.”
Regarding Gallagher’s philosophy, Piltz says: “Our Gallagher Better Works philosophy ensures we look after our clients through all aspects of their financial health and benefits. Now in the UK, we can truly say we have a complete organisation, very balanced in size and standing, which brings real strength in every single proposition that we offer to our clients.”
Financial & brand strength
According to Piltz, the organisation’s engagement and financial performance post-integration underscores the success of merging these two business entities, with clients benefiting from expanded service offerings and the financial stability of a global leader in insurance brokerage.
Piltz mentions the financial strength and recognition associated with Gallagher. He says: “They see us now as part of a very large $50 billion market cap, New York Stock Exchange kind of organisation.”
Piltz also argues that the stability and commitment the Gallagher brand represents reassures clients and pension scheme members about the continuity and benefits of the merger. He says the firm’s communication strategy ensures all stakeholders are informed and comfortable with the transition, reflecting the organisation’s dedication to seamless integration and client service excellence.
He comments: “Everyone has seen the benefit of being part of the Gallagher brand, the Gallagher family feeling really part of a great culture, learning about the Gallagher way and the various tenets that kind of lead on how we behave. They’ve been very receptive.”
Team integration
Gallagher has also made an effort to integrate the legacy teams into a cohesive organisation through strategic leadership appointments and team-building initiatives says Piltz. The firm now boasts a 14-member leadership team, with 6 of them being legacy Buck leaders.
Piltz emphasises a shared vision in which experience from both sides contributes to the organisation’s success, emphasising balanced business lines and attracting new talent to boost capabilities.
He highlights that Gallagher recently hosted a leadership event in Manchester to promote collaboration and shared leadership within the newly integrated team.
Piltz notes: “It doesn’t matter where you started from, we are now better together and we are now leading this organisation together.”
Mergers and challenges
According to Piltz, Gallagher is committed to continuous strategic review and future growth and will consider future mergers if they reflect the expansion goals of Gallagher and are a cultural fit.
He highlights the recent acquisition of Simply, a UK-based digital workplace agency specialising in enhancing digital employee experiences through strategic analysis, best practices, and platform implementation.
But Piltz acknowledges the challenges of integrating two large organisations while also maintaining operational momentum. He highlights the support provided by Gallagher’s Integration Management Office and global colleagues, emphasising their expertise in managing acquisitions.
He stresses: “The support we’ve had from that office and our global colleagues has been immense. Whilst it was a challenge and not all tasks are completed yet, we’re confident that very quickly we will have taken this organisation to the next level and beyond.”