Drake Star Partners adds industry experts in France and Switzerland
Drake Star Partners, a corporate finance advisory firm with ten offices globally, has bolstered its European footprint with two senior industry experts. Kevin Power and Thomas Hürlimann joined the firm’s Paris and Zurich offices – the pair bring a combined 60 years of technology and management expertise to the US-headquartered financial advisory firm.
Thomas Hürlimann most recently served as CEO Global Corporate at Zurich Insurance Group, a business with $9 billion premiums and a network in over 200 countries. Prior to his fourteen year spell at the Swiss insurer, Hürlimann worked at Swiss Re, a Zurich-based global reinsurer and the second-largest player in its segment. Earlier in his career he was employed by Coutts, where he served as Vice President for Central and Eastern Europe, and National Westminster Bank.
Hürlimann brings over 28 years of experience in banking, reinsurance, insurance and management proficiency to Drake Star Partners, with Marc Deschamps, Executive Chairman of the consultancy, not surprisingly highlighting that he is “thrilled to welcome Thomas to the family.”
The appointment comes at a time of growing M&A activity in the insurance landscape. According to a study by Willis Towers Watson, the number of deals closed has risen year-on-year since 2013, as insurers seek to consolidate and ramp up their innovation prowess to fend off mounting tech-led competition. Recent transactions include the acquisitions of Robidus by Aegon in the Netherlands, Insurance Broking Group by Aon in the UK, ICB Group by French broker Verlingue in the UK, Adira Insurance by Zurich Insurance (a 80% stake) in Indonesia, and software company Relayr by Munich Re.
Hürlimann will focus on advising both buy-side and sell-side teams at the firm. “It is a unique opportunity to leverage my knowledge of the financial service industry, especially as this segment becomes increasingly intertwined with new, innovative technology solutions, where FinTech and InsureTech scale-ups keep challenging and disrupting traditional, large incumbents,” commented Hürlimann.
Meanwhile, Drake Star Partners Paris’ office has welcomed Kevin Power to its team. Most recently, Power was Senior Advisor to the CEO and Board of Broadsoft, a provider of cloud-based unified communications services to telecom service providers (acquired by Cisco in February 2018). Previously, he has been involved with successful growth companies for most of his career and was on the original management team for two start-ups (Orion Network Systems and GTS) that launched IPOs in the United States.
Power, who will divide his time between France and the US, brings more than 30 years of operating and management experience in technology, IT, software, and cloud communication services to Drake Star Partners. “Drake Star Partners keeps making impressive market gains in the midcap technology segment, making this an opportune time for me to help the firm’s roster of vertically-minded partners. The firm’s reputation for offering truly sector-focused advice and cross-border coverage gives me the confidence to become an important resource for partners looking to deepen their sector knowledge, broaden their corporate ecosystem outreach or to discover new geographies,” he commented.
Senior Advisor network
Both Hürlimann and Power have been appointed a Senior Advisor. “Our senior advisors are uniquely positioned to add considerable value to Drake Star thanks to their deep sector knowledge, their access to new corporate ecosystems and to untapped geographies. Their unique experience is an immeasurable resource for our partners,” said Deschamps. “Our network of hand-picked senior advisors is what defines us and we plan on developing the model even further.”
Drake Star Partners focuses on the technology, media and communications sectors (TMC), and operates with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Amsterdam, Geneva and Tokyo.
For all M&A news and projects completed in Europe by M&A leading advisors, see the section Service Area | Mergers & Acquisitions.