Global broker Lockton is expanding from its Australian headquarters in Perth, with a new team setting up shop in Sydney.

CEO Adam Rhodes says the group is looking to open in other cities but will spread out from Perth and Sydney only when it has the right people.

“We certainly have an eye on Melbourne and Brisbane,” he told insuranceNEWS.com.au.

“We don’t aspire to be the biggest corporate broker but to have a meaningful market share based on the quality and experience of our team.”

US-based Lockton is building its Australian presence after a proposed tie-up with Australian Reliance fell through earlier this year.

The company already employs 40 staff in Australia and will have eight in Sydney, with EM Simon Woods moving from Perth to join EM Gareth Jones there. It has also appointed former JLT broker James Richards as a senior associate.

Mr Rhodes says Australian corporate clients have responded well to Lockton’s mix of private ownership with a global presence.