Marsh L.L.C. has appointed Chris Lay as president of its global captive solutions business, effective July 1, the insurance brokerage said Tuesday.
In his new role, Mr. Lay will focus on growth across the business' operations, Marsh said in a statement.
He succeeds Michael Cormier, who will continue as CEO of Marsh Risk Consulting, according to the statement.
Previously, Mr. Lay was the business development leader within Marsh's international division. He has been with Marsh since 1984.
Mr. Lay is based in London.