Global insurance broker Marsh & McLennan has announced the resignation of its risk and insurance services subsidiary co-president Peter Garvey, less than four months after his appointment to the position.

The New York-based broker says Mr Garvey, who also headed its North American brokerage operations, has left for “personal reasons”.

Marsh CEO Michael Cherkasky says Mr Garvey ”made this decision after careful consideration, and we wish him well”.

Fellow co-president William Malloy will become president of the brokerage, and Executive Vice President Philip Moyles Jr will become head of its North America operation.

Both Mr Garvey and Mr Malloy took up their joint appointments in November last year, following the resignations of a number of senior executives during the Spitzer probe.