Marsh has appointed John Doyle as CEO of its global operations following the departure of Peter Zaffino, who will join AIG as Global COO under new leader Brian Duperreault.

The move sees the two giant companies playing a form of high-level musical chairs. Before joining Marsh last year Mr Doyle was CEO of AIG’s commercial insurance businesses worldwide. He was also President and CEO of Chartis US.

Mr Zaffino begins his new role at AIG next month, having served as Marsh CEO since 2011.

He was also chairman of Marsh’s risk and insurance services segment from 2015 and a member of the executive committee from 2008. He was previously CEO at Guy Carpenter.

Mr Zaffino will oversee all country operations, including US commercial field operations, AIG’s multinational organisation and global business services.