Bluefin Corporate Consulting, the employee benefits business with a major office in Bristol, has been sold by parent group AXA to Capita in a £50m deal.
The firm will become part of Capita’s pensions business, Capita Hartshead.
AXA will retain the Bluefin trading name. Bluefin’s other operations, including Bluefin Insurance Group, which is core to AXA’s Commercial Lines operation, and Bluefin Personal Consulting, which provides wealth management services, are not included in the acquisition.
AXA UK and Ireland group chief executive Paul Evans said: “Following the sale of the AXA Life business in 2010, and in particular the corporate pensions business, the consulting services offered by BCC are no longer aligned to our long-term strategy and core lines of business.
“We are pleased to have entered into an agreement with Capita which will ensure that BCC and its customers benefit from the scale and market presence offered by becoming part of Capita’s enlarged employee benefits operation.”
AXA sold its Bristol-based Life business for £2.75bn to investment firm Resolution.in 2010.
Bluefin Corporate Consulting provides employee benefits consultancy to medium and large corporations. It has developed award-winning benefits management technology which supports tan increasing number of services across the group and is used by more than 150 clients with over 80,000 employees.
Bluefin Corporate Consulting employs 548 people, principally in London and across eight UK offices including Bristol.
