Marsh to retire Jelf name amid commercial rebrand

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The broker warned that some local offices would be merged following its deals with Clark Thomson, Bluefin and JLT as it rebrands to Marsh Commercial.

Marsh has announced that Jelf will be renamed Marsh Commercial in Q1 2020.

A statement from Marsh claimed the rebranding would help it deliver services and solutions more effectively across the UK.

Following the purchase of Jelf in 2015 for £258m, Marsh also completed acquisitions of JLT, Bluefin, and Clark Thomson.

Local
As part of today’s announcement, the broker stated that it would “bring together” a number of local offices across these businesses.

A spokesperson for Jelf said no decisions had yet been made on office closures and potential redundancies and that branches would be looked at on a case-by-case basis.

Jelf CEO Anthony Gruppo commented: “By co-locating colleagues where existing offices are close together we will strengthen our local presence thereby enhancing and building on the unrivalled offering we provide.”

He added: “As organisations have faced an increasingly complex landscape of risk issues, Jelf colleagues have worked collaboratively with those in Marsh to call on their wide ranging and global expertise.

“By including the Marsh name in ours, we make accessing that wider offering more seamless for those we serve.”

Gruppo replaced previous Jelf CEO Phil Barton in March 2019, who exited with immediate effect.

Structure
A new organisational structure at Marsh Commercial will see the business serve three separate regions: north of England, south of England and Wales, and Scotland and Northern Ireland.

Marsh Commercial will also be creating “enterprise centres of excellence” across the UK, focused on providing risk and insurance advice to smaller organisations.

The restructure comes with a number of management changes.

Amanda Walton has been appointed CEO of Marsh Commercial’s enterprise centre of excellence. She was previously managing director (MD) for the north region and client advisory services at Jelf.

Mike Owen has become CEO of the south of England and Wales region. He was previously Jelf’s MD for the south region.

Jonathan Webb was appointed CEO of the north of England region, having been head of Marsh’s Leeds office.

Clark Thomson’s Ben Bailey has been made CEO of the Scotland and Northern Ireland region. Prior to this new role, he was Jelf’s MD for its Scotland and the lakes region.

A spokesperson for Jelf was unable to comment on whether any departures had resulted from the management reshuffle.

Acquisitions
Marsh has undertaken several acquisition and rebranding initiatives in recent years.

Marsh bought Bluefin from Axa for £295m in late 2016. Following an announcement in November 2017, Bluefin was rebranded as Jelf in 2018.

The acquisition of Clark Thomson then set Jelf back £23.3m in 2018.

Marsh’s parent company Marsh & McLennan Companies (MMC) completed its £4.3bn acquisition of JLT in March 2019. It has since been revealed that Marsh spent £90m integrating JLT in Q2 2019.

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