Aon MD for Specialties Jennifer Richards will become CEO Australia on October 1, replacing James Baum who is taking up a new role in London as UK Head of Commercial Risk on the same date.

Mr Baum took on the CEO position in March 2018, rising up the ranks after joining from Marsh in 2005.

The broker announced the leadership appointment today in a brief statement. A spokeswoman confirmed Ms Richards is set to be the first woman to manage its Australia business.

Ms Richards has been with Aon for the past 10 years. As MD for Specialties, she ensures clients receive the best service, outcomes and coverage. She is a member of Aon’s Asia-Pacific Global Leadership Team and Diversity & Inclusion Council.

“Her extensive experience across broking, M&A and leading complex clients means she is ideally placed to succeed [Mr Baum],” Aon said.

Before Aon, she held a variety of senior management roles at AIG where she was responsible for their M&A, private equity and real estate practices.