Towry Law acquires employee benefits firm

Money Marketing reports that Towry Law has paid an undisclosed sum for Hazlems Financial. The employee benefits firm is based in London. Hazlems managing director Nick Jones said it was the right time and in the best interests of their clients.

Friends Provident is keeping Sesame after review.

Money Marketing reports that British insurance group Friends Provident, originally founded by Quakers, has decided to keep financial adviser network Sesame after a wide-ranging review. In May 2007 Friends acquired the firm for £75m. However, the group has decided to sell fellow financial adviser Pantheon, which concentrates on the high net worth market. Pantheon was bought for £33m.

Deutche Bank seems to be winding down UK mortgage operation.

Moneymarketing reports that the future DB Mortgages, a British unit of the German banking group Deutsche Bank, seems to have an unclear future. The bank has made redundant the managing director of DB Mortgages, Bill Dudgeon and would not confirm how many people were still employed at the affiliate.