NEW YORK (Bloomberg) - Brian Storms, former CEO of the flagship insurance brokerage at Marsh & McLennan Cos., has been named CEO of APX Inc., the California-based company that sells systems to trade emission credits.

John Melby, who has been serving as CEO on an interim basis, will continue as president, Santa Clara-based APX said in a statement on Friday.

Mr. Storms, 53, was fired in September after two years heading the Marsh Inc. brokerage because the unit was underperforming smaller rivals Aon Corp. and Willis Group Holdings Ltd. The man who dismissed him, Michael Cherkasky, was himself replaced on Thursday by Brian Duperreault, the former CEO of Bermuda-based business insurer Ace Ltd.

Mr. Storms had previously been president and CEO of another Marsh & McLennan unit, Mercer Human Resource Consulting. Before joining Mercer in 2004, he was president and CEO of the UBS Global Asset Management for the Americas.

APX also announced today that Goldman Sachs Group Inc. became a minority equity investor in the company, joining venture capital and strategic investors including Bechtel Enterprises Holdings.