Broker Marsh has appointed Chris Lay as president of its global captive solutions business. He succeeds Michael Cormier, who will continue in his role as chief executive officer of Marsh Risk Consulting.
Based in London, Lay will focus on the strategic priorities to drive growth across the business’ current operations and future platform.
In his new role Lay will report to John Drzik, president of Marsh’s global risk and specialties division.
Since joining Marsh in 1984, Lay has served in a variety of senior roles in the UK, Europe, the Middle East, and Africa regions, and the international division. His has led the UK and EMEA corporate segment and Marsh’s operations in Russia, Eastern Europe, and the Middle East. He most recently served as the business development leader within Marsh’s international division.
Drzik said: “Chris’ proven leadership abilities, relationship-building skills, and business development experience uniquely position him to lead Marsh’s Captive Solutions business in its next stage of growth and development. As the world’s leading captive manager, Marsh has had great success in developing innovative solutions for clients, and I am confident that under Chris’ leadership we will build on that success.”
Lay added: “In a rapidly evolving risk landscape, it is vital that we offer clients innovative alternative financing solutions to protect their assets and enable them to grow and thrive. I look forward to the opportunity of leading Marsh’s excellent team of more than 450 captive experts and offering clients all over the world Marsh’s world-class captive solutions.”
Marsh, Chris Lay, Europe