Daily Insurance Industry News
Daily Insurance Industry News
Sunday 18th of November 2018
April 27, 2010

Job losses as Marsh integrates HSCB acquisition

by Gill Montia

Story link: Job losses as Marsh integrates HSCB acquisition

Marsh has begun a consultation process regarding the redundancies that are to follow last month’s completion of the acquisition of HSBC Insurance Brokers.

The broker and risk specialist says it is considering the “duplication of roles and other efficiencies” as the businesses integrate.

In a statement, the firm promises to inform all those affected as soon as possible and makes the point that job losses will not be dependent upon whether an individual was previously employed at Marsh or HSBC Insurance Brokers.

Merger plans are either on track or ahead of schedule and the relocation of London staff who are moving into Marsh should take place sooner than expected.

HSBC Insurance Brokers was acquired for £135 million in a deal that also saw Marsh become a preferred strategic partner to HSBC, which now refers both private and corporate clients to the broker.


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