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Kinloch forms employee benefits unit


NEW YORK--Kinloch Holdings Inc. has formed an employee benefits unit through the asset acquisition of Nystrom, Palumbo Inc. of Melville, N.Y., the New York-based middle-market brokerage said Wednesday.

Nystrom will be known as Kinloch Consulting Group Inc. and will serve as the employee benefits operation platform for Kinloch's New York metropolitan area hub, Kinloch said in a statement.

Kinloch Consulting will be managed by Mike Palumbo, executive vp and managing director, and Bob Nystrom, executive vp. It will continue to operate from its current offices in Melville, N.Y., the brokerage said.

Robert B. Lockhart, who resigned as president and chief operating officer of Hilb Rogal & Hobbs Co. in May 2005, formed Kinloch last October with plans to grow the brokerage through a combination of acquisitions and organic growth (BI, Oct. 9, 2006).