Global insurance broker Lockton has announced the formalization of its global transaction liability practice, a move that solidifies the firm’s commitment to providing clients with a unified, expert-led approach to managing transaction risk across all major M&A markets.
Over the past three years, Lockton has placed more trading liability policies than any other broker in North America.
This new global structure aims to export this successful model, with technical rigor, consistency and long-term customer partnerships across its international footprint at its core.
The global business will be co-led by Lockton’s US trading liabilities leadership team: Josh Halpern, Matt Heinz, Gaurav Sud and Eric Ziff.
“Transaction liability is a highly technical consulting discipline,” said Josh Halpern, global co-head of transaction liability. “As transactions increasingly span jurisdictions, clients require advice that combines deep local market expertise with a globally consistent approach. Formalizing our global platform enables us to deliver superior technology standards wherever transactions are conducted.”
Central to this expansion is the appointment of Mary Duffy as head of global expansion and market strategy for trading liabilities.
Duffy joins Lockton from AIG, where he spent 13 years as global head of mergers and acquisitions insurance, overseeing the world’s largest transaction liability insurance company.
She began her career at a large global brokerage, establishing its North American trading liability business.
“Mary brings a rare combination of institutional knowledge, global operational experience and deep technical credibility,” said Matt Heinz, global co-head of transaction liability. “She has been directly involved in the evolution of transaction liability products across geographies and market cycles. This perspective will be invaluable as we continue to build a platform designed to serve complex clients around the world.”
“What attracted me to Lockton was the seriousness of its commitment to building a truly global platform for responsible trading,” said Duffy. “The company is investing in technology depth, integration across geographies and an approach to delivering consistent advice to clients, rather than simply expanding its reach. This focus on quality and consistency enables clients to engage across borders with confidence.”
Lockton is also doubling down on its investment in the Asia-Pacific region under the leadership of Terence Montgomery. With more than two decades of experience and a background as head of Asia Pacific M&A for another global brokerage, Montgomery is tasked with navigating Asia’s diverse and nuanced regulatory environment.
“Asia Pacific is a diverse and highly nuanced market, and the region’s success depends on regional insights and global connectivity,” said Gaurav Sud, global co-head of transaction liabilities. “Terence brings exceptional expertise across a broad range of jurisdictions and transaction types, and he has quickly become a core member of our global team.”
The appointments build on Lockton’s recent global investments in trading liabilities, including the establishment last year of dedicated businesses in Latin America led by Bruna Reis and India led by Anand Kaul, as well as continued growth in the UK and Northern Europe.