Three senior managers at market leading broker Marsh have moved across to the new local operation of Howden, boosting the UK-based global broker’s ambition to be a major competitor in the rapidly consolidating specialist insurance broking market.

Matt Bacon, who was formerly CEO of the Mercer Marsh Benefits business for the Pacific region – and prior to the 2019 merger with Marsh headed up JLT’s People Risk consulting business for Australia and New Zealand – joined Howden Australia as CEO.

Mr Bacon, who began work at Howden Australia’s Sydney HQ today, has been joined by former Marsh deputy leader for Corporate, Commercial & Affinity Stuart McKellar as Howden Australia’s new Head of Commercial & Affinity.

Former Marsh deputy head of Financial & Professional Services Nick Chubb has also moved across to become Head of Financial Lines.

The appointments signal Howden’s big ambitions for the local market, where it will focus on local specialist industry and product segments such as financial lines, corporate risks, commercial and affinity, workers’ compensation, group risk and alternative risk transfer solutions.

Howden Broking employs more than 6500 people worldwide and has a global network operating in more than 90 territories. It entered the Australian market on March 1.

Group CEO David Howden said today from London that Australia “has been a key strategic market for the group since we launched [underwriting agency] Dual in 2004”.

“Now the time is right for us to also enter the Australian market as a broker,” he told insuranceNEWS.com.au. “We have already proven to be a magnet for the market’s leading entrepreneurial talent and we believe that Matt is the perfect leader for the broking business as we challenge the status quo and provide a dynamic choice for our people, our clients and insurers.”

Howden Broking CEO José Manuel González says in a statement that the current environment of consolidation in the Australian broking market means “now is our time. We are very excited about the opportunities this market presents.”