Marsh has appointed James Addington-Smith as CEO of Marsh UK, effective early 2026 and subject to regulatory approval. He will report to Flavio Piccolomini, CEO of Marsh McLennan International, and will be based in London.
In the new role, Addington-Smith will lead the development and execution of Marsh’s UK commercial strategy. His remit includes corporate and commercial client segments, risk management, risk consulting, and specialty broking. He will also collaborate with Marsh McLennan’s global leadership to integrate the group’s risk, strategy, and people advisory capabilities for UK clients.
Addington-Smith will succeed Chris Lay, who also serves as CEO of Marsh McLennan UK. Lay will retire in the first quarter of 2026 after more than four decades with the organisation. Marsh stated that a successor for the Marsh McLennan UK leadership role will be named at a later date.
Addington-Smith joined Marsh in 2010 as marine leader for Asia after senior broking roles in Hong Kong and London. He currently serves as president of Marsh Asia and has previously led Marsh Specialty in the region. Earlier in his career, he was an officer in the British Army. Following his transition, David Jacob, CEO of Marsh McLennan Asia, will assume the additional position of president of Marsh Asia.
Financial context
The leadership change follows the release of Marsh McLennan’s third-quarter results. The group reported consolidated revenue of US$6.4 billion for the quarter ended 30 September 2025, an 11% year-on-year increase, or 4% on an underlying basis.
Operating income rose 6% to US$1.2 billion, while adjusted operating income increased 13% to US$1.4 billion. Net income attributable to the company reached US$747 million, with earnings per share of US$1.51. Adjusted earnings per share grew 11% to US$1.85.
Marsh recorded third-quarter revenue of US$3.4 billion, representing a 16% increase, or 4% on an underlying basis.
