A specialist insurance broker and risk consultant has announced a key appointment to its financial institutions (FI) team.

Matthew Hughes, former executive director at Arthur J Gallagher, was appointed as partner of JLT Specialty's FI team.

In his new role, Hughes is tasked to deliver value to key clients in the asset and wealth management sector, and strengthen JLT’s growth in other specialist areas such as banking and insurance for insurance companies – specifically in the UK, Europe, the US and Australia.

Paul Towler, senior partner for JLT Specialty’s financial Lines group, said Hughes “will no doubt be a major asset to the team” as he brings to the firm “a deep-rooted knowledge of the myriad of risk issues which are faced by financial institutions across the sector.”