Howden is acquiring the employee benefits consultancy division of Evelyn Partners, Evelyn Partners Financial Services Limited (EPFS).
EPFS provides consultancy services to employers and trustees, with a client base that includes mid-market, scale-up and fast-growing firms. Its services cover group risk and healthcare benefits, employee engagement and communications, wellbeing and other ancillary benefit offerings.
The EPFS team of 38 professionals, based in London, Bristol, Glasgow and Guildford,is led by Gareth Sawyer, Head of Employee Benefits at Evelyn Partners. Sawyer will report to Howden Employee Benefits managing director Cheryl Brennan following the acquisition.
The deal follows Howden’s acquisition of Barnett Waddingham in March 2025. According to Howden, its combined operations of its employee benefits and pensions advisory business now include around 4,000 professionals across 40 countries with total combined revenues of over £500 million.
The transaction is subject to regulatory approval and is expected to be completed in the first quarter of 2026.
Howden UK employee benefits managing director Cheryl Brennan says: “EPFS bring a highly experienced team with an excellent reputation and a culture that mirrors our own. This acquisition reinforces Howden’s investment in our market-leading, full-service employee benefits proposition, strengthening our ability to deliver fresh thinking and trusted advice for corporates seeking a global employee benefits broker with a client-first approach.
“We’re delighted to welcome the EPFS team and to build on our strong relationship with the wider Evelyn Partners group as we continue to grow our scale and impact in the corporate health and benefits market.”
Evelyn Partners head of employee benefits Gareth Sawyer says: “Howden is an impressive business and will be an excellent long-term home for the team and the clients we serve through access to Howden’s wider proposition offering and global presence. The deal provides clarity on our future and will bring exciting opportunities as we become part of a global organisation that has grown to become one of the UK’s largest employee benefits specialists. Our clients can expect business as usual, with the team remaining focused on delivering high quality advice to help them attract and retain talent in a competitive market, while retaining a close relationship and continued collaboration with Evelyn Partners.”
Evelyn Partners CEO Paul Geddes says: “The sale of our employee benefits consultancy further streamlines Evelyn Partners’ range of activities as part of our strategic decision to focus solely on wealth management. This transaction follows on from the successful sales of our Professional Services and Fund Solutions businesses, both of which completed earlier this year.
“Howden will be a great long-term owner of this business, providing new opportunities for our employee benefits team and continuity of the services they provide to clients. I would like to thank the team for the contribution they have made to our business over many years and wish them well for the future as part of Howden.”
