Broking house Marsh has named Chris Lay as CEO of its UK and Ireland operations.

Chris Lay

Lay moves to the London-based role from heading up Marsh’s Canadian business as president and CEO of the region, a job he has had since July 2016,

Prior to that he worked in a variety of senior roles at Marsh over his 30 years at the firm, the broker said.

In his new role, Lay replaces Mark Weil, who is leaving the company for a role in the private equity sector, Marsh said.

The appointment comes amid a massive Marsh massive restructure at Marsh which is expected to result in significant redundancies.

Last month revealed Marsh had appointed consulting giant Boston Consulting Group to advise on potential headcount reductions and cost-cutting initiatives in a bid to improve margins at the firm.

In the wake of a global staff call by Marsh president and CEO John Doyle earlier this week, this publication revealed that a number of senior individuals have already fallen victim to the cuts.

They include managing director and head of sales for global specialty Nick Roscoe and the chairman of Marsh’s global infrastructure practice Edwin Charnaud.

Sarah Robson will replace Lay as president and CEO of Marsh Canada, in a move that will see her promoted from her current role of managing director in Marsh’s US business.

Lay said he is excited to return to the UK and lead the team in the region.

“As companies face an increasingly complex operating environment – navigating risks such as cyber and Brexit – Marsh is well-placed to be the trusted adviser to firms of all sizes,” Lay said.

“I look forward to working with colleagues around the region to deliver the risk and insurance services our clients need.”

Doyle added: “We are excited to appoint Chris and Sarah to lead these important regions for us.

“They are talented, long-tenured Marsh executives who will bring a strong focus on our priorities of colleagues, clients and growth.”