firstEquity bows out and becomes Lockton South Africa

Seamus Casserly, CEO at Lockton South Africa

Last year, the world’s largest independent broker, Lockton, acquired a 60% equity stake in firstEquity Risk Management, marking its first foray into the African market.

Now the deal has bedded down, firstEquity has taken the decision to rebrand and change its name to Lockton South Africa (Pty) Ltd, to better reflect its ownership structure and renewed growth focus.

A move that means the name firstEquity ceases to exist on 1 June 2019.

Lockton and firstEquity have enjoyed a Global Partner relationship since 2011 and, when the local business split into two in 2017, Lockton took the opportunity to invest in the corporate and commercial side of the business headed by CEO and founder, Seamus Casserly.

“As expected, it has been a very positive development for both parties and we’re proving to be a great fit, which has strengthened our ability to offer advisory solutions to our clients based on the very best global practices and IP. So, we are delighted to be adopting the globally recognized Lockton logo and branding,” he says.

“We’re also very pleased that this development coincides with our achievement of Level 2 B-BBEE status at the end of July, which has been a key objective of the Board since Lockton acquired its stake.”