Global broker Marsh is closing its London branch of MMC Enterprise Risk, a business unit that gives risk management advice and financial solutions.

The operation provides products such as tailor-made trade credit insurance and insurance-capital solutions, in which types of financial risk are transferred to the insurance market. It also consults on risk management.

A Marsh spokesman said the office's work would be done by other Marsh experts.

He said: "A detailed analysis of Marsh's Enterprise Risk Management (ERM) business has resulted in a restructuring of the UK business."