LONDON, Sept. 4, 2013 (GLOBE NEWSWIRE) -- Willis Group Holdings (NYSE:WSH), the global risk advisor, insurance and reinsurance broker, today announced the appointment of Les Collett to establish a Financial Solutions office in Hong Kong. His appointment is effective from October 1, 2013.
Collett joins Willis from Standard Bank in Hong Kong where he is currently Head of Loan Syndications, Global Markets Asia. He is an experienced banker and has held senior positions in London prior to moving to Hong Kong in January 2007.
Commenting on the appointment, Paul Davidson, CEO of Willis Financial Solutions, said: "Les will continue the successful development of our political and trade credit risk practice in Asia. We already have a leading position in the region from our existing operations in Singapore. The continued expansion and development of international trade in Asia presents significant opportunities for our clients, as well as regulatory capital management challenges. Les has deep knowledge of the commodities industry and banking sector and will enable us to enhance our market-leading advice and insurance solutions for clients."
Collett added: "Risk mitigation through insurance is a powerful tool for banks and commodity traders as they seek to manage their exposure to country and counterparty risks as part of their regulatory capital management. I look forward to working with Willis's existing and expanding client base."
In 2012 China overtook the US as the biggest trading nation in the world. Willis has been conducting business in China since 1926 and today has 22 offices across the country, which is the largest network of all the global brokers.
Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 17,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website,www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.
Notes to Editors
Willis Financial Solutions is a division of Willis Global which specialises in structuring insurance products to mitigate the risks of trading with, or investing in, volatile emerging markets.
Willis Hong Kong began operations in 1977.
CONTACT: Media: Nathan Hambrook-Skinner + 44 2031 248 716 Email: firstname.lastname@example.org Investors: Peter Poillon +1 212 915 8084 Email: Peter.Poillon@willis.comSource:Willis Group Holdings