Marsh (NYSE: MRSH) appointed Ted Moynihan as President and CEO of Marsh Management Consulting and Oliver Wyman, effective immediately, according to a company statement. Moynihan succeeds Nick Studer, who was appointed President and CEO of Marsh Risk.

Moynihan will serve on Marsh's Executive Committee and report to John Doyle, President and CEO of Marsh. He will continue to be based in London.

"Ted brings extensive leadership experience and a proven track record of driving transformation and growth in the consulting sector," Doyle said in the statement.

Moynihan has worked at Oliver Wyman for three decades, most recently serving as the firm's Global Head of Industries and previously as Global Head of Financial Services. The company described his role as advancing work at the intersection of strategy, risk, and transformation.

"It is a privilege to lead Marsh Management Consulting and Oliver Wyman at such a pivotal moment and build on our legacy of delivering exceptional client value through deep industry knowledge and innovative thinking," Moynihan said.

Marsh reported annual revenue of $27 billion and employs more than 95,000 people globally. The company provides risk, reinsurance and capital, people and investments, and management consulting services to clients in 130 countries.