Marsh chief exec says the best people will be retained
Marsh began redundancy talks this week in relation to the acquisition of HSBC Insurance Brokers.
Chief executive Martin South did not disclose numbers, but stressed there would be no distinctions made between Marsh and former HSBC Insurance Brokers (HIBL) staff.
South said: “This isn’t just going to affect the former HIBL employees, this is a meritocracy.
“We wanted to make sure that both communities know we are looking across the business to make sure we select the best people in the positions to drive growth. I have been very impressed with the quality of people we have had with HSBC.”
South said he was already beginning to see the benefits of the integration, particularly in the wholesale broking space, where Marsh could use its global strength to place business.
“We are beginning to see significantly more upside from the growth perspective than we had anticipated. I’m particularly excited about our opportunities. We are looking at Gibbs Hartley Cooper to take a strategic play in the wholesale world in London, where Marsh has not really been represented,” he said.
International chief operating officer Ian Clarke said the company was ahead of schedule in moving former HSBC staff into Marsh’s offices.
The first stage of integrating the two companies’ IT?systems should be completed by 27 May.