Marsh (NYSE: MRSH) announced leadership changes effective April 1, with Nick Studer becoming President and CEO of Marsh Risk and Martin South transitioning to Chief Client Officer of Marsh.

Studer will succeed South as head of Marsh Risk, while South will take on an enterprise-wide role working with the company's business leaders. Both executives will continue serving on Marsh's Executive Committee and report to John Doyle, President and CEO of Marsh.

Studer joined Oliver Wyman in 1997 and has served as its CEO since 2021. He previously held senior consulting roles across the firm's consumer, industrial, and financial services practices. Studer has served on several cross-industry organizations, including as a founding Director of TheCityUK.

South rejoined Marsh in 2007 after initially joining the company in 1985 with Bowring Marsh. He became President and CEO of Marsh Risk in 2022, having previously served as CEO of the business in multiple regions including Asia-Pacific, UK and Ireland, Europe, and US and Canada. South also held leadership positions at Zurich Financial Services, where he was a member of the Group Management Board.

The company expects to announce a new CEO of Oliver Wyman and Marsh Management Consulting by April 1, according to the press release.

Marsh operates in 130 countries with annual revenue of $27 billion and more than 95,000 employees, providing risk, reinsurance and capital, people and investments, and management consulting services.