The new co-chief executive has been colleagues with Consilium’s James Baird for 22 years 

International reinsurance broker Consilium – part of The Aventum Group – has today (16 January 2023) appointed Paul Richards as its new co-chief executive.

Richards will lead the broker alongside James Baird, who was hired as chief executive back in November 2022.

James Baird, co-chief executive and managing partner at Consilium, said: “Quietly building its presence as a Top 50 Broker, 2023 will be a transformational year for Consilium as we strive to be one of the best and most inspirational specialty wholesale (re)insurance broking businesses.

“We will continue to invest in people and systems – independent, nimble and unencumbered by legacy IT or investors’ demands, we are firmly in control of our own destiny.”

This appointment is the latest in a series of senior hires at Consilium over the last few months, including a chief operating officer and head of claims.

Overall, Consilium has onboarded 14 new starters since the start of 2023.

Proven long-term partnership

Richards and Baird have been colleagues for 22 years – Richards was most recently executive director and a member of the executive committee at Ed Broking for nearly three years.

Prior to that, he was managing director of Ed Broking’s professional and executive risks division.

Baird, co-chief executive and managing partner at Consilium, added: “Richards and I have worked together for many years and we’re delighted that he has taken up this role. We’re a proven partnership many times over and together we make a compelling and capable leadership team.”

Prior to Ed Broking, Richards spent nearly eleven years as the financial lines leader and executive director at Willis Towers Watson as well as 13 years as a partner at JLT both in the UK and Australia.

Richards said he was “hugely excited” to have the opportunity to help shape and drive Consilium forward and be a part of the journey it has embarked on.

Lastly, he continued: “These host of recent senior appointments are a clear signal of intent to the market. We’ve undeniably got a long and challenging journey ahead to reach our destination, but I absolutely know that Consilium is destined for great things.”