Exclusive: Howden CEO says US expansion will happen ‘when the time is right’, adding ‘clients want choice’

By James Thaler

July 21 - (The Insurer) - David Howden told staff on Monday that his company plans to enter the U.S. retail broking market “when the time is right, and with the right leadership and partners”, without commenting specifically on its raid of Marsh.

The Howden Group founder and CEO sent a missive to staff on Monday, in anticipation of press reports regarding his company’s ambitious raid of the Marsh McLennan-owned retailer, which has been a longstanding Howden Group client in the London wholesale market.

The Insurer was the first to report on Monday that Howden Group had moved to hire scores of U.S.-based Marsh retail colleagues, with Miami-based Mike Parrish picked to lead Howden’s retail launch as CEO and former Hays Companies executive Jim Hays expected to be group vice chair.

“You may read speculation about our expansion into the U.S. retail broking market in the press today,” David Howden told colleagues in an internal memo reviewed by The Insurer.

“As you know, I have been clear that when the time is right, we will expand our operations in this important market - the world’s largest. We know that talent, clients, and markets in the U.S. all want choice. We also know we can be the fresh and dynamic alternative that they are asking for," he continued.

“This will be an incredibly exciting moment for the whole Group, completing our global retail reach and opening up considerable opportunities for all parts of the business,” he added, without directly confirming his company’s imminent plans.

The Insurer also reported on Monday that Howden Group is looking to expand into the U.S. inorganically through M&A, as well as through the organic hires.

“Of course, when this happen, it will not affect our commitment to serving our values, existing U.S. clients, retail, wholesale, and MGA partners through Specialty, Reinsurance, and DUAL,” David Howden said Monday.

“As soon as there is news to announce, I will share it with you first,” he concluded, instructing staff to contact their leadership team in the interim with any questions regarding the latest developments.

A spokesperson for Howden could not immediately be reached for comment.