Marsh, a global leader in risk, reinsurance and capital, people and investments, and management consulting, announced that Nick Studer will become President and CEO of Marsh Risk, succeeding Martin South.

Martin South will take on an enterprise-wide role as Chief Client Officer of Marsh and work closely with the leaders of the company’s businesses. Both will continue to serve on the company’s Executive Committee. The changes are effective April 1, according to the press release.

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

“Nick joined Oliver Wyman nearly 30 years ago, and in the last five years, as its CEO, has driven tremendous growth. His experience advising corporate and public sector leaders on risk and transformation makes Nick the ideal executive to continue Marsh Risk’s market leadership and further its trajectory of growth and service excellence”, the CEO commented.

“Martin has decades of experience serving clients and driving innovation. He has deep relationships across industries, and as Chief Client Officer, will bring our unique capabilities together to help clients navigate this highly complex macro environment. Martin will also work to apply AI and other new technologies to enhance the client experience. I look forward to the contributions both will continue to make to our clients’ and Marsh’s success”, John Doyle added.