Howden is moving again in the employee benefits space, signing a deal to acquire Evelyn Partners Financial Services Limited (EPFS) – the employee benefits consultancy arm of wealth manager Evelyn Partners.
The acquisition, still subject to regulatory approval, is set to close in the first quarter of 2026. Once completed, EPFS will fold into Howden’s UK employee benefits and corporate health operations, a growing segment in the group’s wider risk advisory portfolio.
EPFS serves a varied client base, focusing on mid-sized and high-growth companies. Its team of 38 employees spans London, Bristol, Glasgow, and Guildford, led by Gareth Sawyer.
Their work covers group risk and healthcare schemes, wellbeing initiatives, employee engagement, communications, and related advisory services.
After the transition, Sawyer will report to Cheryl Brennan, Managing Director of Howden Employee Benefits. Brennan said the addition fits Howden’s long-term strategy to deepen its full-service employee benefits platform.
EPFS bring a highly experienced team with an excellent reputation and a culture that mirrors our own.
Cheryl Brennan, Managing Director of Howden Employee Benefits
“This strengthens our ability to deliver fresh thinking and trusted advice for corporates that need a global broker with a client-first mindset,” she said.
The move follows Howden’s 2025 acquisition of Barnett Waddingham, which bolstered its global pensions and benefits advisory footprint. Together, Howden’s expanded operations now include about 4,000 professionals across 40 countries, generating more than £500 mn in revenue.
Sawyer said the transition gives his team stability and access to a larger network. “Howden is an impressive business and an excellent long-term home for our clients and people,” he said.
We’ll continue to provide the same high-quality advice, now backed by Howden’s scale and international reach.
He added that clients should expect continuity, as the team remains focused on supporting employers in talent retention and workforce wellbeing. Collaboration with Evelyn Partners will also continue after the handover.
Evelyn Partners CEO Paul Geddes said the sale aligns with the firm’s plan to narrow its focus. “This transaction continues our strategic refocus on wealth management,” he said.
It follows the successful divestments of our Professional Services and Fund Solutions businesses earlier this year.
The deal tightens Howden’s grip on the UK employee benefits market while allowing Evelyn Partners to double down on wealth and investment management – both companies, in different ways, clearing the decks for growth.
