Howden launches capital, advisory and placement division

Howden has launched HowdenCAP, a new capital, advisory and placement business for financial institutions and corporates. The unit will be led by CEO Mary O’Connor. She most recently worked for KPMG and was acting CEO at the firm for a period. According to Howden, the launch of the division is in direct response to clients’ needs for “increasingly complex insurance and investment solutions to optimise capital and achieve strategic goals”. It will include Howden’s mergers and acquisitions practice, which specialises in warranty and indemnity insurance, its global credit solutions and surety practices, together with specialists in regulatory capital, risk weighted assets, private equity, insolvency, tax, credit and structured finance. “The business will bring a fresh approach to solutions at the convergence of the insurance and capital markets space to corporate clients and all non-(re)insurance industry clients in the financial services sector, including private equity, banking and asset management,” said the broker. “The new proposition will, for the first time at scale, blend the skills and experience of those with backgrounds in banking, law and ‘big four’ consultancy with the breadth and depth of insurance specialisms.” O’Connor said: “The combination of the opportunity to build a unique business in a critical space for clients, the power of insurance as a part of the solution to complex and emergent problems, and the passion, energy and talent within Howden to actually deliver something that pushes beyond the traditional boundaries of insurance, presented an exciting opportunity I wanted to grasp.” She added: “At a time when the corporate community is facing a unique set of operational, strategic and capital risks, it is absolutely the right moment for a new approach and set of capabilities that will create risk transfer solutions to unlock capital, and by partnering with clients to build resilience and fuel growth.” O’Connor was previously head of clients and markets at KPMG, having joined the firm in 2018 as chief risk officer. She spent the previous six years at Willis Towers Watson as head of client, industry and business development, and global head of financial institutions. She will report to José Manuel González, CEO, Howden Broking. “It is at our heart to find people who bring different thinking to the table and challenge the way the insurance sector can help clients with long-term capital solutions to address the risks of the future,” González said. “Mary is a natural leader in this field and we’re confident her cross-sector expertise and experience will contribute significantly to the rollout and growth of HowdenCAP, and enhance our leadership team. The teams that make up HowdenCAP are already recognised as leading experts in their respective areas and with the talent that will join us to build out the business, we will continue to break new ground.” David Howden, CEO of Howden Group, added: “There has never been a more critical moment for us to remain relevant to clients by using the power of insurance to help provide answers to long-term capital risks. The fact that Mary has chosen to come back to insurance speaks loudly to this moment and is an exciting milestone for the industry and an incredibly special moment for all of us at Howden and our evolution. I am excited to see where she can take HowdenCAP in its journey to become a powerhouse of expertise and innovation, which is primed to deliver more for clients.”

Howden launches capital, advisory and placement division

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