JLT Group CEO Dominic Burke will chair the new Marsh-JLT Specialty business, to be launched after a merger of the two broking giants.

Current JLT Specialty CEO Lucy Clarke will become President of the combined specialty business, with responsibility for areas including energy, credit, marine, financial and professional, private equity and mergers and acquisitions, construction and aerospace.

JLT shareholders earlier this month voted in favour of the takeover by New York-based Marsh & McLennan.

The deal remains subject to antitrust and financial regulatory approvals, but Marsh last week revealed plans for the specialty businesses, including the new name and executive appointments.

“While our brand is Marsh, Marsh-JLT Specialty will leverage the exceptional reputations of both firms’ specialty units with clients that require specialised products and services,” Marsh President and CEO John Doyle said.

As previously announced, Mr Burke will also become Vice-Chairman of Marsh & McLennan.

The acquisition, announced in September, makes Marsh a global insurance industry giant. In Australia the merged company will be the nation’s biggest insurance broker.

JLT’s prime niche sectors in Australia include local government, while it is also a significant player in the corporate arena, as is Marsh.

In other global appointments, JLT Group Deputy CEO Mark Drummond Brady will become Vice-Chairman of Marsh, reporting to Mr Doyle. Dean Klisura will become Marsh Global Placement President, responsible for all lines within Marsh, including non-specialty.

Marsh & McLennan’s operations also include Guy Carpenter and consulting division businesses Mercer and Oliver Wyman.