11 June 2007: Noordwijk (NL): OyezStraker chairman Hugh Sear has fired the first warning shot in the post Kingfield Heath-ISA merger era.
Sear, a leading customer of UK wholesaler Kingfield Heath, said he would be "very upset" if his OyezStraker group lost "a single customer" to the direct-buying division of the newly-formed Kingfield Heath-ISA giant, Supplies Team.
"It is an unusual situation and I can’t quite work it out," he told a break-out panel discussion at the OPI eurOPe conference, being held in Noordwijk, the Netherlands.
"We are watching the situation very closely and we would be very upset if we were to lose a single account to Supplies Team."
He said he was unsure if the senior management would look to spin-out the direct sales division or organise a management buy-out but said it would be "advisable" for the wholesaling operation to be kept separate from Supplies Team and avoid a potential conflict of interest.