FINANCE
Newport Beach-based United Capital Financial Advisers LLC released its newest white-label software for financial advisers. FinLife CX, which signifies client experience, permits advisers to maintain existing customer relationship management systems while using United’s software tools. The company said FinLife CX is moving away from traditional fees based on assets under contract and management to a structure charging an annual $600 per-client guidance fee.
— Peter J. Brennan
HEALTHCARE
Allergan PLC said it won’t pursue a deal to buy Shire PLC. Both companies make eye care drugs, among other products. Allergan’s flagship in that arena, Restasis, will soon face competition from generics, which could cut the drug’s annual take of more than $1 billion. Allergan has cut jobs, put up buildings at its Irvine campus for sale, and initiated legal maneuvers to stave off or prepare for competition. Allergan and Shire are headquartered in Dublin for tax purposes. Allergan’s U.S. base is in New Jersey; its Irvine campus includes the eye care division.
— Paul Hughes
NONPROFITS
Frank Talarico Jr. resigned after six years as president and chief executive of Goodwill of Orange County, effective April 9, the nonprofit said in a letter by board Chairman Dick Trueblood. He also served on the group’s board. The Santa Ana-based organization is the largest nonprofit in OC, with about $123 million in annual revenue, 1,600 employees, and 600 volunteers, according to Business Journal research. Goodwill works mainly to help people find jobs, serving about 22,500 people a year. Trueblood credited Talarico with growth in Goodwill’s ecommerce business, ShopGoodwill.com
— Paul Hughes
RESTAURANTS
Restaurant Brands New Zealand Ltd. said it wants to buy a Taco Bell franchise group on the U.S. mainland, bring the brand to New Zealand, and expand the chain in Australia, where there’s just one location. The Auckland-based company is master franchiser in New Zealand for Irvine-based Taco Bell’s sister chains, KFC and Pizza Hut—the three are owned by Louisville, Ky.-based Yum Brands Inc.—and for Carl’s Jr. and Starbucks.
— Paul Hughes
SERVICES
Gkkworks, an Irvine-based architecture firm with 100 employees, was bought by CannonDesign on undisclosed terms. The acquisition increases CannonDesign’s presence in Southern California, adding offices in San Diego and Pasadena, in addition to Irvine. It will have about 1,100 employees after the deal closes. Gkkworks, founded in 1991 by Praful Kulkarni, has recently worked on projects such as Concordia University’s nursing science unit and the Midfield Satellite Concourse at Los Angeles International Airport. It has 39 employees in OC, including nine architects.
— Peter J. Brennan
