National Financial Partners Corp. expanded its corporate benefits presence in New York, through the acquisition of the remaining outstanding interests of New York-based group benefits firm Nemco Group, LLC. NFP owned a minority interest in Nemco prior to this transaction. Nemco became a wholly-owned subsidiary of NFP Corporate Services, LLC following the consummation of the acquisition April 2.
NFP Corporate Services, operating under the NFP brand, was created with the combination of AGS Benefits and NFP Dreyfuss & Birke. The New York team has annualized revenue of approximately $29 million, including Nemco with annualized revenue of approximately $11 million.
Cyrus Walker and Stephen Cooper, previous management of Nemco, will report directly to the managing directors of NFP Corporate Services and maintain senior sales roles.
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