Reshuffle leaves global broker in search of new UK chief executive
Marsh’s UK and Ireland operation is searching for a new chief executive after the promotion of current chief Martin South.
South has been named chief executive of Marsh Europe – a new position created as part of a reshuffle of Marsh’s Europe, Middle East and Africa (EMEA) division.
Marsh has not yet named a replacement, and South will continue to run Marsh UK and Ireland in the interim.
While South will no longer be directly responsible for running the UK and Ireland division once a new chief executive is appointed, the new chief will report to him.
South will also still be responsible for Marsh’s operations in Turkey and India.
South became chief executive of Marsh Ltd, Marsh’s UK legal entity, in 2007, rejoining the company from insurance group Zurich.
He presided over Marsh’s 2010 acquisition of HSBC Insurance Brokers and insists that there are still plenty of growth opportunities in the UK.
“We are nowhere close to saturation in the UK marketplace even though it is a mature market,” South told Insurance Times last February.
The reshuffle in Marsh’s EMEA division follows the promotion of former EMEA chief executive David Batchelor to president of Marsh’s International division last November.
The position was vacated last April by Alex Moczarski, now head of Marsh’s sister company, reinsurance broker Guy Carpenter.
Marsh and Guy Carpenter’s ultimate parent is US firm Marsh & McLennan companies.