Welcome to Part 5 of our Eliot Insights Series, where we explore the issues, trends, and leadership themes shaping the insurance industry.
In this edition, Tom Brooks, Partner in Eliot Partnership's Australia office, unpacks the forces reshaping leadership across Australia and New Zealand — from the rise of AI as a hiring priority, to ANZ's growing role as both an exporter and importer of global insurance talent.
Drawing on his experience working across Asia and now ANZ, Tom shares what top-tier leadership looks like today, how the best clients approach executive search, and the advice he gives executives weighing their next career move.
How would you describe the current leadership landscape across Australia and New Zealand compared to other global markets?
TB: The leadership landscape across Australia and New Zealand is in a period of notable evolution. On the broking side alone, there have been several leadership changes in the past 18 months, signalling a significant shift in strategic direction across several major broking houses. These organisations are largely pursuing growth agendas within a market of defined scale, making effective leadership positioning a critical differentiator.
A distinguishing characteristic of the ANZ market from an executive search standpoint, is the degree to which CEOs empower their HR functions. There is a clear culture of trust at the executive level, with HR often granted considerable autonomy in decision-making — a dynamic that reflects well on the calibre of leadership operating in this region.
Australia and New Zealand are broadly regarded as growth markets, well-positioned for expansion over the next five to ten years. This is reflected in the increasing international interest from organisations based in London, New York, and other global centres that are actively looking to establish or strengthen their presence here. Alongside this, there is a tangible demand for international talent entering the market, further underscoring ANZ's growing prominence within the global insurance landscape.
Do you see ANZ as a net exporter or importer of senior insurance talent today?
TB: The ANZ market does not fall neatly into either category — it functions as both an exporter and an importer of senior insurance talent. There is meaningful demand for experienced professionals who have built their careers in Australia and are seeking international exposure, whether in Singapore, Asia more broadly, or London. Equally, there is growing client interest in attracting talent from overseas into the Australian market.
This openness to international talent has developed considerably over the past three to five years, accelerated in part by the shifts brought about by COVID-19. Clients are increasingly willing to consider candidates from global talent pools, even where relocation is required. This reflects a broader evolution in mindset — one that treats senior appointments as global conversations rather than purely domestic searches. Of course, some leadership roles will require regional / ANZ experience as a prerequisite, but often clients will be less focused on experience in a region and more driven to find talent that brings soft skills that are transferable overseas.
For professionals based in markets such as London, Australia represents a compelling proposition, and those who may not have previously considered relocation are increasingly open to the possibility. Given the current global environment, the prospect of an international move is one that more candidates are willing to explore seriously.
What does top tier leadership look like in today's insurance market and how has that definition changed over the past three to five years?
TB: Top tier leadership in today's insurance market is defined by the capacity to embrace and drive change. While this has always been a hallmark of effective leadership, the nature of that change has evolved considerably in recent years.
The most prominent development is the growing imperative around artificial intelligence. Senior leaders are not expected to be AI specialists, but the best among them are actively seeking to understand its implications and are making deliberate hiring decisions to bring that expertise into their organisations. This has become a tangible requirement in executive search briefs — a clear signal of how rapidly the landscape is shifting.
Prior to the emergence of AI as a leadership priority, the defining issue was flexible working, a transition accelerated by the pandemic. Organisations that adapted their models during that period have largely retained flexible working policies, and this has become a baseline expectation for attracting and retaining all levels of talent. The ability to implement and sustain such policies thoughtfully is now considered a mark of strong organisational leadership.
Taken together, the common thread across these developments is change management — and the leaders best equipped to navigate it are those who approach transformation proactively rather than reactively.
What do the best clients do differently when engaging with executive search firms?
TB: The most effective clients approach executive search as a genuine partnership rather than a transactional exercise. They engage early, arrive with a clearly defined brief, and treat the search firm as an extension of their own organisation throughout the process. This level of preparation and collaboration consistently produces the strongest outcomes and forms the foundation of long-term relationships built on repeat engagement.
A key differentiator is the ability to identify, in advance, when a search warrants external expertise. Most clients understand that certain briefs — whether due to seniority, sensitivity, or market complexity — are not suited to internal recruitment efforts or open advertising. Bringing in an executive search firm at the outset, before the role has been exposed to the broader market, preserves confidentiality and ensures a more targeted, effective approach.
By contrast, clients who engage search firms reactively — after an advert has already been posted and the brief is widely known — inadvertently limit the effectiveness of the process. Once a role is in the public domain, the ability to approach the market with discretion and precision is significantly reduced. Recognising the right moment to engage external search capability is, in itself, a mark of sophisticated talent leadership.
What advice would you give to executives considering a move in the next 12 to 18 months?
TB: The most important question any executive can ask before pursuing a career move is simply: why? Understanding the genuine motivation behind a desire to move is essential — and the answer requires honest, objective reflection.
It is worth noting that the most sought-after talent in the market is rarely actively looking to leave. The professionals most valued by clients tend to be those who are well-retained and not readily available. This is not to discourage those with legitimate reasons for seeking a change, but rather to encourage careful consideration of whether those reasons are substantive.
Before engaging with the external market, executives would be well-served by first exploring the conversation internally — whether with HR, a direct superior, or, in the case of a CEO, a trusted board member. Understanding the root cause of any dissatisfaction, and whether it can be meaningfully addressed within the current organisation, is a critical first step. If that process has been undertaken and the decision to move remains well-founded, then the right external support is available. However, the discipline of interrogating the why should always come first.
Are counteroffers becoming more effective or are candidates still willing to move?
TB: At the senior level, counteroffers rarely prove to be a decisive factor, and this holds true in the current market. While the practice of countering is well-established, it is most commonly observed — and most effective — at the mid to junior level, where financial incentives carry greater weight and career direction may be less clearly defined.
For senior executives, the decision to explore external opportunities is typically the result of considered reflection over time. By the point at which a formal offer has been received, the underlying motivations for moving — which are rarely financial alone — are generally well established. A counteroffer, which is almost always framed around remuneration, addresses only one dimension of what is invariably a more complex decision. Accepting one without resolving the broader concerns that prompted the search rarely leads to long-term satisfaction.
The more productive approach is to ensure that financial considerations are appropriately separated from the wider factors that inform a career decision at the senior level — purpose, culture, leadership, and long-term trajectory among them. Where those factors point clearly toward a move, a counteroffer is unlikely to change the outcome in any meaningful or lasting way.
What has been the most surprising lesson from building and leading relationships in the ANZ market?
TB: The fundamental principles of relationship-building do not vary significantly from market to market — rapport, trust, and consistency remain central regardless of geography. In that respect, the ANZ market is not markedly different from others.
The more substantive learning has been in understanding the internal diversity of the Australian market itself. It is tempting to approach Australia as a single, homogeneous market, but there are meaningful differences in how business is conducted across Victoria, New South Wales, Western Australia, and other regions. These are, in practice, distinct markets with their own dynamics, networks, and ways of working.
This is particularly relevant in an insurance context. Unlike more concentrated markets such as Singapore or London, where the industry operates in close geographic proximity, the Australian market is considerably more dispersed and perhaps more akin to North America. Building an effective presence and cultivating relationships across these regions requires a more deliberate and nuanced approach — and appreciating that distinction early has been one of the more valuable lessons in operating effectively within this market.
Eliot Partnership is the only global executive search firm dedicated exclusively to the insurance and reinsurance industry. We work with the world's leading insurers, reinsurers, brokers, and specialty platforms to build leadership teams equipped for what's next. To speak with our team about gender diversity strategy, succession planning, or executive search, visit eliotpartnership.com.
