Senior executives purchase employee benefits advisory firm, launch new brand identity
CHICAGO, IL, February 13, 2012 – Pacific Resources — a leading non-medical employee benefits advisory firm servicing large, predominantly Fortune-ranked companies — today announced that two of its senior executives have purchased the privately held company.
Paul Barden and Paul Rogers have become principal owners of Pacific Resources and will serve as CEO and president & COO respectively. Barden joined the company in 2000 and has served as executive vice president since 2000. As CEO, he will lead corporate strategy, client services, legal, finance and operations. Rogers has served as executive vice president since 2004. As president & COO, he will oversee corporate strategy, product development, marketing, underwriting and distribution. Barden and Rogers purchased Pacific Resources from benefits industry veteran Barry Fitzmorris who founded the company in 1975.
“For over three decades, Pacific Resources’ unique, evidence-based insights have shaped employee benefits solutions, impacting the lives of millions of employees and their families in meaningful ways,” said Barden. “We’re excited to be taking ownership of Pacific Resources at a time when our expertise in non-medical benefits is needed more than ever. Increasingly, Fortune-ranked companies are pursuing ways to spend their benefits dollars differently to drive employee wellness, satisfaction and retention.”
Headquartered in Chicago, and with locations throughout the country, Pacific Resources serves large employers with diverse workforce benefits needs. The company partners with national and multinational corporations across industries to deliver complete Life, Disability, Voluntary and other non-medical benefits solutions. Pacific Resources currently serves more than seven million employees and their families, and its clients include several large companies such as Johnson & Johnson, Siemens, John Deere, and Colgate-Palmolive Company. The company has worked with over 200 Fortune-ranked companies on their non-medical benefits programs.
Pacific Resources saves its clients hundreds of millions of dollars through expense and premium reductions, plan re-design and process improvements, and program audits as well as increased employee participation. Its client-specific benefits programs help companies attract and retain highly qualified employees and improve productivity. The company maintains an industry-leading 98 percent client retention rate and has achieved double digit revenue growth over the past five years.
Concurrent with the new ownership announcement, the company has unveiled a revitalized brand identity that includes a new logo, corporate messaging, website, collateral materials and social media presence.
“The core attributes of the Pacific Resources brand have always been the depth of our focused expertise, the strength of our client and vendor relationships, and the value we deliver to all parties over the lifetime of the partnership,” said Rogers. “This hasn’t changed and never will. What has changed is that we’ve significantly enhanced all the elements of our brand identity so we can communicate and demonstrate these attributes to the industry more effectively.”
About Pacific Resources
Pacific Resources is a leading employee benefits advisory firm servicing large, predominantly Fortune-ranked companies. Headquartered in Chicago, and with locations throughout the country, Pacific Resources partners with clients across a broad spectrum of industries to deliver complete solutions to Life, Disability, Voluntary and other non-medical benefits challenges. For over three decades, Pacific Resources’ unique, evidence-based insights have shaped innovative employee benefit solutions, impacting the lives of millions of employees in rewarding and binding ways. For more information, visit www.pacresbenefits.com.