The recent wave of leadership moves at the big global brokers is only the visible edge of a deeper structural reshuffle. Years of deal‑making – from Marsh/JLT and Gallagher/AssuredPartners to Howden’s roll‑ups in Germany and New Zealand – have left overlapping entities, hierarchies and brands that now have to be rationalised, and that inevitably throws up new job titles and some exits. At the same time, the groups are re‑cutting the map: creating regional “super‑roles” such as Marsh McLennan Pacific, or combined Australia–New Zealand heads at WTW, to drive cross‑selling, shared analytics and more centralised carrier strategy instead of purely local fiefdoms. On top of that sits a war for talent. Elevating internal stars into regional and global slots is one of the few reliable tools these firms have to stop their best people drifting to rivals, MGAs or start‑ups. And all of this is happening against a risk backdrop that demands more technical firepower at the top.