MILAN, March 20 (Reuters) - New York-listed insurance

broker and risk adviser Marsh said on Friday it had named Matteo

Astolfi as wealth leader for Italy at its Mercer unit.

Astolfi will report to Marco Valerio Morelli, CEO of Mercer

Italy and work closely with Luca De Biasi, CEO of Mercer Italia

SIM, to combine Mercer's wealth and asset management operations

more closely.

"Institutional asset management and wealth management are

evolving profoundly due to changes in financial markets and

investor needs, increasing the importance of taylor-made models

and dedicated decision-making," Astolfi said after his

appointment.

Astolfi previously led Capital Group's activities in Italy

and Greece as managing director and head of client group.

After starting his career at consultancy KPMG, he held roles

at CreditRolo Gestioni SIM, which later became Pioneer

Investments, and M&G Investments, where he was also country head

for Italy and Greece.

On Thursday, Mercer announced it had agreed to buy Spain's

AltamarCAM, a specialist private markets asset manager with 20

billion euros ($23.14 billion) in assets, including a 40% stake

held by private equity firm Permira.

Mercer currently provides advisory services on assets worth

around $16 trillion and manages $692 billion in assets.

($1 = 0.8643 euros)