One of Australia’s best known and most influential insurance brokers, Terry Paradine, is returning to Australia and retiring.

Mr Paradine – until last year the Chairman and CEO of the Asia-Pacific region for mega-broker Marsh – is understood to have quit his new job running Marsh’s British operations about seven months after taking up the appointment.

His new position as CEO of Marsh in the UK and member of the company’s European board was only officially confirmed by Marsh late in July last year.

Mr Paradine is expected to retire from the company at the end of next month and will return to Sydney to live. Marsh has not commented officially on the sudden departure of one of its best-known executives.

Mr Paradine moved to Australia and joined Marsh’s predecessor company, Marsh & McLennan, in 1969. He rose to become Chairman and CEO of the Australian arm of the company, before being appointed to run the Asia-Pacific region 11 years ago.