Howden hunts outside of insurance to attract top financial institutions talent
Global broker Howden has hired an outsider as new head of financial institutions & advisory to deepen its structuring capabilities. Its CEO said the appointment reflects its strategy to find talent from outside of the industry to ensure that insurance remains relevant to address risks in an increasingly challenging macro-economic environment.
Colin Reddy (pictured) has joined Howden’s capital, advisory and placement business. He will be based in London as a managing director in Howden CAP’s business.
Reddy has over 20 years’ experience in financial services and joins Howden CAP from Mizuho Financial Group, where he was responsible for the financial institutions debt capital markets team including balance sheet & capital solutions and securitised products across Europe, Middle East and Africa. During his time at Mizuho, Reddy advised on and executed a number of strategic capital and balance sheet transactions for the company’s key global clients. Prior to Mizuho, he spent a decade at Bank of Ireland, working across its global markets, asset management, finance and group treasury functions, and latterly serving as head of balance sheet management and deputy head of capital management.
At Howden CAP, Reddy will use his industry expertise to provide clients with balance sheet and regulatory advisory services, while deepening Howden CAP’s existing structuring capabilities.
Mary O’Connor, chief executive officer of Howden CAP said: “Howden CAP’s strategy is to expand traditional insurance structures to equip our clients with the advisory services and solutions that they need to address the increasingly challenging macro-economic environment that they are facing. Colin’s appointment reflects our strategy to attract talented individuals from outside of the sector, ensuring that insurance remains relevant to clients at this time, and challenging the ways that the industry addresses clients’ long-term capital risks.”
Drew Wardrope, deputy CEO, Howden CAP, added: “Together with our existing expertise and talent, Colin’s appointment will enable Howden CAP to be at the forefront of balance sheet and regulatory advisory services for Financial Institutions. We are building a unique business that is leveraging the power of insurance to develop solutions that address clients’ operational, strategic and capital risks now – and in the future.”
Reddy commented: “Moving to Howden CAP represents a hugely exciting opportunity to join an entrepreneurial firm. It is an exciting time to be in the insurance industry, and I’m looking forward to using insurance to help clients address the increasingly demanding macroeconomic and political environment they face today.”
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