On Wednesday, 26th March, Westerby’s founder and chairman, Les McLintic, announced to staff that the company is now an Employee Ownership Trust (EOT). This transfer of ownership of the group makes Westerby employees potential beneficiaries of future profits.
This strategic move reflects the company’s commitment to fostering an empowering working environment and ensuring sustainable growth for the future by creating a culture of shared success and responsibility.
Passing on a remarkable legacy
By transferring all ordinary voting shares to the trust, Les McLintic has given Westerby’s staff a meaningful stake in its future success. After nearly four decades of leading the Westerby Group, Les commented, “The time is right for me to transfer my shares for the benefit of our very dedicated, enthusiastic, and hard-working employees. I firmly believe this decision is the best way to build on our legacy of success.”
Founded in 1986 with just three employees, the Westerby Group is now comprised of Westerby Investment Management Limited, Westerby Trustee Services Limited and Westerby Pension Administration Limited. As well as at its headquarters in Andover Street and The Crescent, King Street in Leicester, some of the group’s 100 staff are also employed in its additional offices in Weymouth and Manchester.
The Group proudly manages assets worth over £1.66 billion, serving more than 5,000 clients.
A success story rooted in growth
One of the key factors behind Westerby’s success has been through strategic growth initiatives. Over the past five years, the company has made several significant acquisitions to strengthen its presence in both the Independent Financial Advice and specialist SIPP and SSAS pension sectors.
Westerby’s transition to an Employee Ownership Trust places it among the 542 UK firms that have so far embraced this structure. Other well-known examples include the John Lewis Partnership and Richer Sounds.
What does our new chapter mean for you?
If you’re a Westerby client or associate, you can rest assured that the company remains firmly in the hands of the people who know it best. With this exciting and innovative change, Westerby will continue to go from strength to strength offering the expertise and personalised service that you expect.
If you’d like to learn more about how Westerby can support your financial goals, please contact us.
