Broker McGill expects new Irish hub premiums to hit $1bn by 2025
UK-based McGill and Partners, a new specialist boutique broker, is eyeing $1 billion in premiums through its new Irish hub over the course of the next five years as it ramps up the new European outpost to a 50-person outfit by 2025.
The broker opened its grab for the European market with January 2021 launch of trading and the October 2021 opening of the Dublin office and has now built its presence to 14-strong. It currently has offices in London, Bermuda, New York and Miami in addition to the new Dublin office.
In the pending hiring spree, McGill and Partners believes it can both develop fresh local talent and repatriate Irish abroad.
Irish Minister for Finance Paschal Donohoe said: “I welcome McGill and Partners decision to choose Ireland as their European base and I am encouraged by their expansion plans. Ireland is committed to growing the international financial services sector through the Ireland for Finance strategy to create the operating environment to attract and retain firms like McGill and Partners.”
Stephen Cross (pictured), CEO - Ireland at McGill and Partners, commented: “After announcing our intention to expand to Ireland in 2020, it’s gratifying to see everyone’s hard work come to fruition with our fantastic new office – amidst the pressures on the pandemic. Ireland’s access to the European markets, business infrastructure and the support from regulators and IDA Ireland made Dublin an obvious choice to handle our European business. ...We’re thrilled to grow the business in Ireland and are looking forward to seeing what the next few years bring.”
Kate Browne, COO - Ireland at McGill and Partners, added: “It’s an exciting moment for us to see our new office open, and to have a space to meet our new colleagues in person. We’ve already been growing the team substantially, and this will continue as we look to attract both local talent and those currently living globally to work in Ireland on complex insurance placements for clients.
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