New start-up target adjusters

1st November 2003

Post ArticlePaul May, former director of Charles Taylor Consulting, has launched a new international company called Concordia Consultancy, which through a series of planned acquisitions is targeting a turnover of £5m-£10m within three years.

Mr May has been on 12 months gardening leave from CTC which he left following differences with the board over strategic and operational matters, having previously been chairman and managing director of loss adjuster Resolve International, which CTC acquired for £5.3m in May 2001.

Although in its early stages, Mr May said Concordia had developed multi-million-pound private equity backing in order to take on and acquire individuals, teams and companies.

"I will clearly be looking to recruit key professionals to the business, such as those skilled people stuck in panel-focused loss adjusters who are frustrated in their career and professional ambitions".

Mr May added that while he was presently both chairman and chief executive, he hoped to appoint a chief executive within two years and that all employees will share in the firm's ownership, using a similar model to that employed at Resolve.

Concordia will have four major operations, each with its own managing director, said Mr May, covering loss adjusting, compliance/audit, dispute resolution and risk consulting. The compliance operation would look to not only provide Lloyd's Financial Services Authority audits but also target individual companies and even Indian call centres. The dispute resolution arm, which has set up a link with a firm of solicitors in the interim, will also look to benefit from legal changes and eventually employ its own legal operation, and the risk consulting arm will, he said, focus on business continuity and in particular the joining-together of risk assessment and loss adjusting/claims services.

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