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Oxygen recruits Heath Lambert management risks team

A team of Heath Lambert management risks brokers – led by Calvin Barnes - have defected to the expanding Oxygen Holdings plc.

The three strong team will take Oxygen’s headcount to around 80 following the arrival of a thirty-strong team from Leeds-based Smart & Cook Consulting last month.

Also joining Oxygen from Heath Lambert will be Alexei Abbott and Drew Harvey to focus on management and financial risks, such as directors and officers and prospectus liabilities. 

Nigel Barton, the founder of the London-based parent Oxygen Holdings, heralded the arrival of the trio and said it should put the company in good stead for 2007.

“Having spent the last two years, sifting through well over 100 teams that have either approached us or vice versa, we have assembled a really high-quality stable of talent. The recruitment of the management risks team, brings us to the end of the first stage of development of Oxygen”, explained the former chief executive of General Re’s Faraday Group.

The group, which is backed by a series of senior City figures including ICAP founder Michael Spencer and ex-Lloyd’s chief executive Ron Sandler, is thought to be close to completing its fourth tranche of fundraising since its formation in early 2004 which should provide a level of financial security as the company looks to capitalise on its expansion.

Barton paid tribute to Oxygen’s shareholders who, he says, have supported the company’s build out. “Each time that we have seen interesting opportunities to attract certain teams, we have raised capital from private investors to fund them,” he commented.

The company’s operations are divided into broking and agency operations. Once the Heath Lambert team arrives, the group will have construction, global property, casualty, professional and management risks, UK Corporate and reinsurance broking capabilities.

Its agency operations – headed by the former Hiscox Insurance head Sian Fisher – currently manage liability, extended warranty and cargo/specie facilities.

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