Global insurance broker Marsh has announced senior leadership changes, appointing Nick Studer (pictured) as president and CEO of Marsh Risk and naming Martin South as the firm’s new chief client officer.

The changes, effective April 1, will see Studer succeed South in leading Marsh Risk. South will move into an enterprise-wide role focused on strengthening client relationships across the company’s businesses. Both executives will remain members of the firm’s executive committee and report to Marsh president and CEO John Doyle.

Doyle said the appointments are intended to support the company’s long-term growth ambitions.

“Our vision is to make Marsh the most impactful professional services firm in the world,” Doyle said in a statement. “These appointments will help us accelerate growth, increase our agility, unlock additional value for our clients, and realise our vision.”

Leadership transition at Marsh Risk

Studer joins the role from Oliver Wyman, the management consulting arm of Marsh, where he has served as president and CEO since 2021. During his tenure, Doyle said the consultancy experienced significant growth.

Studer first joined Oliver Wyman in 1997 and held several senior consulting roles across its consumer, industrial and financial services practices before becoming chief executive.

In his new position leading Marsh Risk, Studer said he aims to continue building the firm’s capabilities as a global risk adviser and intermediary.

“I am honoured to lead Marsh Risk and delighted to be carrying forward our mission to grow a paradigm-shifting risk advisor, all-connected risk intermediary, and passionate advocate for our clients,” he said.

Studer added that Marsh’s investment in data, analytics and artificial intelligence will play a central role in enhancing client experience and helping organisations manage increasingly complex risks.

South, who has led Marsh Risk since 2022, will transition into the newly created role of chief client officer.

In the position, he will work across Marsh’s businesses to deepen client relationships and integrate capabilities across the organisation. He will also focus on applying AI and emerging technologies to improve the client experience.

“A touchstone of Marsh, across all our businesses, is that we put clients at the centre of everything we do,” South said. “With the power and breadth of our expertise and a keen understanding of our clients’ needs, we can serve them like no other professional services firm.”

South brings decades of experience in the insurance and risk advisory sector. He rejoined Marsh in 2007 and has previously served as CEO of several regional businesses, including Asia-Pacific, the UK and Ireland, Europe, and the US and Canada.

Earlier in his career, South held senior roles at Zurich Financial Services, including membership on the insurer’s group management board and CEO of its London operations.

Marsh among one of the world’s largest insurance brokers and risk advisers, operating in more than 130 countries. The global professional services group also includes Oliver Wyman, Mercer, and Guy Carpenter.

The company provides insurance broking, risk advisory, analytics, and consulting services to corporations, governments and institutions across a wide range of industries.

Marsh said it expects to announce a new CEO for Oliver Wyman and Marsh Management Consulting before April 1.