HLA Global Takes Wells Fargo Trademark

The global partnership between insurance brokers Heath Lambert Group and the old Acordia brand came to a formal end today after Wells Fargo Insurance announced it has renamed the entity Wells Fargo Global Broker Network.

Wells Fargo also announced personnel moves as part of the action.

The network, HLA Global Network, which was formed between London-based Heath Lambert and Acordia shortly before the Chicago-based broker's acquisition by San Francisco-based financial services firm Wells Fargo & Company, is a network partnership between the two brokers and other brokers throughout the world.

At the time of the arrangement in 2001, the partnership had a presence in 55 countries through over 200 offices and produced close to $1 billion in revenue.

Chicago-based insurance broker Wells Fargo Insurance said in a statement that Wells Fargo Global Broker Network has 10,000 insurance and risk management staff serving customers from 330 offices across 70 countries, and provides insurance brokerage services in 115 countries.

The broker said the “name change is designed to strengthen the network's global identity under the Wells Fargo brand and help expand the delivery of international insurance and risk management services and solutions to Wells Fargo Insurance Services customers around the world.”

A spokeswoman for Heath Lambert said the broker sold its shareholdings in the network earlier this year to Wells Fargo. However, Hearth Lambert remains a member of the broker network, she said.

“Wells Fargo's widely known and highly trusted brand, as well as our company's considerable financial strength, depth of resources and leadership, will help network members around the world to better serve our customers,” said Dave Zuercher, chairman, president and CEO of Wells Fargo Insurance Services.

In its announcement, Wells Fargo said Bruce M. Basso would lead Wells Fargo Global Broker Network as president and chief executive officer. He is the former co-chairman of ABD Insurance and Financial Services. ABD Insurance was the brokerage arm of Greater Bay Bancorp deal last year and is now a part of Wells Fargo Insurance Services.

Mr. Basso will join Mr. Zuercher, who is also chairman of Wells Fargo Global Broker Network; Grahame Weatherley, chief operating officer of the broker network; and Frank Witthun and Scott Isaacson, both directors, as a member of the board of directors of Wells Fargo Global Broker Network LLC. Completing the new leadership and management structure is Deanna Hyndley, the network's marketing and compliance manager.