Howden acquires Matrix

Howden Broking Group has announced the acquisition of Matrix, a Lloyd’s broker of large corporate and industrial risks. Matrix operates primarily in the Greek and Cypriot markets. The group has expanded through subsidiaries in Turkey and South Africa and has an increasing number of international clients.

Dimitris Tsesmetzoglou will continue as CEO of the business, which will rebrand to Howden Matrix later in the year. The business will become part of Howden’s Mediterranean region, led by CEO Danny Sever.

José Manuel González, CEO of Howden, commented: “This is a great opportunity for both businesses and above all, for our clients. Joining with MATRIX, the leading independent broker in Greece and Cyprus, aligns with our strategy and pledge to provide clients with market-leading expertise, wherever needed.”

Dimitrios Tsesmetzoglou, CEO of MATRIX, added: “Completing this merger in the current conditions is testament to the shared priorities, values and commitment of our two businesses and an environment of stability and economic growth, which a new government has established in Greece. We are excited to join forces to enhance our offering to existing clients, and together present a more compelling proposition going forward.”