Marsh names captive management chief

Marsh L.L.C. named New York-based Nick Durant global captive solutions practice leader on Monday.

Effective July 1, Mr. Durant will oversee Marsh’s captives business, which manages more than 1,250 captives worldwide, Marsh said in a statement.

Previously, Mr. Durant was Marsh’s global analytics sales leader. He succeeds Chris Lay, who last week Marsh named president and CEO of Marsh Canada.

Mr. Durant will report to John Drzik, president of Marsh’s Global Risk and Specialties division

“Strategic advice and capital-based solutions have never been more critical for our captive clients,” Mr. Drzik said in the statement.