Dublin, 25th August 2020: Cornmarket Group Financial Services Ltd has announced that it has acquired the remaining 75% shareholding in Educational Institute of Scotland (EIS) Financial Services Ltd. Cornmarket acquired an initial 25% stake in the company in 2016.

EIS Financial Services was set up in 1990 by the largest teacher trade union in Scotland (EIS) to give its 55,000 teacher and lecturer members access to qualified financial advisors and provide impartial financial advice on investments, pensions, retirement planning and insurance. The EIS union represents over 80% of all Scottish teachers in primary, secondary and third-level education.

The deal represents a significant move for Cornmarket, allowing for further expansion in the UK by providing financial services and insurance products to Scottish teachers and their families. The move complements the company’s offering and expertise in Ireland, where Cornmarket is the leading provider of financial services to public sector employees.

Cornmarket Managing Director, Patrick Ryan, commented on the acquisition: “We are delighted to announce our acquisition of EIS Financial Services. This is an important strategic move for Cornmarket as we expand our footprint in the UK. The deal will mean that we now directly employ over 100 financial advisors across Ireland and the UK who are focussed on delivering best in class financial advice and solutions to public sector employees and their families.

After our initial purchase of 25% of EIS Financial Services in 2016, we believe there is a strong growth opportunity for the services we provide to teachers and other public sector employees in the UK. 

We have decades of experience bringing financial wellbeing to public sector employees through expert advice, superior service and tailored products. The demand for our services has remained strong throughout the coronavirus pandemic as our customers are looking for a trusted advisor to assist them in navigating these uncertain times.”

The acquisition has been approved by the Financial Conduct Authority in the UK and specific terms of the agreement have not been disclosed.


About Cornmarket Group Financial Services

Cornmarket Group Financial Services Ltd provides financial advice and tailored products for public sector employees. Established in 1972, Cornmarket has grown significantly and now has 400 employees in Dublin, Cork, Galway, Belfast and Glasgow. Cornmarket works closely with public sector unions, associations and employers, together building group schemes with benefits designed around their members, focused on their particular professions.

The UK arm of the Group is made up of Cornmarket Insurance Services Ltd and Educational Institute of Scotland (EIS) Financial Services Ltd.

Cornmarket Insurance Services Ltd. is based in Belfast and is a wholly-owned subsidiary of Cornmarket Group Financial Services Ltd., specialising in providing a wide range of personal line insurances to affinity groups throughout the UK including teachers, members of the Institute of Advanced Motorists, truck and bus drivers.

Educational Institute of Scotland (EIS) Financial Services provides financial services and insurance products to members of the EIS union in Scotland covering primary, secondary and third level education.