Racine, Wis. (October 5, 2016) – Johnson Insurance Services Wednesday announced the completion of the acquisition of Monterey Benefits, an employee benefits firm headquartered in Scottsdale, Ariz. The firms officially closed on the acquisition in mid‐September.
Johnson Insurance is part of Johnson Financial Group, the $4 billion privately held financial services holding company based at 555 Main St., which also owns Johnson Bank and Cleary Gull Advisors.
Monterey founder Steve Grady and his team will all continue with Johnson Insurance in the employee benefits area. Grady, now the executive vice president of Johnson Insurance, will lead all efforts in Arizona.
Joanne Szymaszek, president of Johnson Insurance, stated, “The strategic acquisition of Monterey Benefits LLC, will not only strengthen our insurance presence in the Arizona region, but also provide a greater value to our combined clients throughout the U.S.”
Along with employee benefit services, the combined firm will have a dedicated service team that offers personal and commercial insurance, risk management and consulting services. Combined clients will also have full access to banking and wealth management services.
Principal owners of Johnson Financial Group are members of the late Sam Johnson family. His daughter, Helen Johnson‐Leipold, is the chairman.