Marsh is to launch a new technology-driven division for its national network after its regional offices have been "streamlined".

Marsh Risk Trading will be headed by Marsh head of European retail placement Ron Hayes, and will begin trading in June this year.

He will report directly to Marsh UK retail chief executive Toby Foster.

Foster said: "We are now developing technology that offers standardised products which gives end-to- end capability for our clients, and direct access to insurers.

"This will be used for Marsh Risk Trading across our offices nationally."

He said Marsh Risk Trading will also allow the broker to keep "teams on the ground locally" but admitted that certain offices will be streamlined.

Stuart Alexander chief executive Stuart Reid said he had received a "ream of CVs" from Marsh's Southampton office.

He said: "Marsh has stated that it feels the provincially held SME business is up for grabs, despite the recently announced job cuts.

"But how is it going to do this when it ise cutting its regional offices down to the absolute minimum?"

Impact on the regions

  • Southampton office will be scaled down, but remain hub for SME technology
  • Manchester office will add more carriers and products to Placement Plus
  • Smaller clients will be offered opportunities though possibly referred to another partner if offering is not right
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