Marsh appoints chief risk officer

Marsh today announced the appointment of James Elder to the new position of Chief Risk Officer of Marsh UK. Mr Elder, joins from Credit Suisse where he was a Director in Bank Operational Risk Oversight. He will report to John Nicholson, Chief Operating Officer of Marsh UK.

Commenting on the appointment, Martin South, CEO of Marsh UK said: “Companies in the UK have seen their risk agendas change materially in recent times and Marsh, like our clients, is always looking for ways to find the upside in these challenges. Given his extensive financial services background and impressive track record for innovation, James will bring fresh perspectives on how we can further improve our operational processes and, therefore, reduce our cost of risk. I look forward to him making a strong contribution.”

Mr Elder said: “I am very pleased to be joining Marsh at such an exciting time in the company’s development and have been impressed by its commitment to applying best practice. Working with management across the business, I look forward to leading the development and implementation of a risk management framework that ensures Marsh in the UK operates at the highest levels of efficiency and effectiveness.”

At Credit Suisse, which he joined in 1998, Mr Elder established and co-ordinated the implementation of the firm’s operational risk framework, designed to help the bank understand, assess, challenge and mitigate its operation risk.