Number of staff from multinational business could be transferred
Marsh is set to move staff in its multi-national practice from London to Norwich.
The broker is about to transfer 650 of its back office staff, based in Norwich, to outsourcing firm Capita. This will leave around 320 staff directly employed in Norwich – a number it will look to grow.
Phil Branch, chief operating officer of Marsh’s multinational practice, said that a number of staff from the 500-strong multinational division could be transferred.
“In London we have 500-odd people in the four business entities that make up multinational, which are the risk management practice, aviation, Finpro, and marine and energy.
“We all have ambitions through our continued transformation to migrate more roles and activities out of London and up to Norwich,” he said.
“It is a lower cost location for us and is something that we are absolutely determined to do in all business areas, so over the coming months and years we will continue to migrate business out.”
Colin Grint, a senior vice president of Marsh based in Norwich, said the company was looking to expand on the 320 staff that it would continue to directly employ in Norwich, with an increasing number of wholesale middle-market business set to be moved from London.
He said: “We continue to look at the operating model of our wholesale business with the view to moving activity from London and elsewhere to Norwich using the critical mass and operating costs of the location.”