Aon’s year of change

It’s been a torrid 12 months for Aon. There was that multi-million pound anti-corruption fine, swiftly followed by the announcement that staff pensions were being cut. Peter Harmer’s sudden departure has now created uncertainty at the top of the UK’s largest broker, leaving Rob Brown with a tough job on his hands. He will need to create a big impression internally and externally if he is to achieve the ambitious growth the Aon board is looking for.

Brown is well positioned to do so. With a strong track record at Aon, he knows the business inside out and has worked alongside Harmer as he developed his growth plans. With Harmer sticking around until September to ensure a smooth handover, there should be little lost in translation.

It will be interesting to see how Brown adapts this strategy. He has said he will press ahead with it, but may accelerate some of the growth plans. He was also keen to emphasise the need to integrate the business at the highest level – presumably, to cross sell and ensure clients are using every appropriate Aon service. He would not talk in detail about the possibility of placing risks globally – a path Willis has already taken – but did acknowledge it was being looked at.

The broker is also talking a lot about risk management, and positioning itself to act as a consultant to its clients as well as a placer of risks.

Aon has been the UK’s largest broker for years, and a major global force. The challenge now is to hold on to that position and ensure the ebullient Willis and growing Marsh do not snap too closely at its heels. When it comes to this- anti-corruption fines and pension policies are all just so much noise. The real challenge is to manage growth in a shrinking economy, and emerge a key player in the changing landscape of risk management. With the full force of a global corporation behind him, Brown holds a good hand.