International broker Aon has completed its acquisition of New York-based global risk management firm Stroz Friedberg.
The transaction, the financial terms of which were not disclosed, will see over 500 staff of Stroz Friedberg joining Aon's cyber solutions group.
Stroz Friedberg boss Michael Patsalos-Fox will become the CEO and co-chairman of Aon's cyber solutions group.
Patsalos-Fox will also join Aon executive vice president of enterprise innovation and chief information officer John Bruno as the cyber solutions group’s co-chairperson.
"We have brought together two of the world's most highly-skilled and accomplished teams focused on cyber risk transfer, mitigation, advisory, and response,” said Aon Risk Solutions
CEO Mike O’Connor.
“As we work to help clients understand and mitigate new and evolving risks in a rapidly changing world, they will now have access to the most advanced thinking and solutions in the industry,” O’Connor added.
A leading global risk management company, Stroz Friedberg has offices across the US and in London, Zurich
, Dubai and Hong Kong.
The acquisition of Stroz Friedberg expands Aon’s cyber risk management and response solutions, the brokerage giant said.
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