Marsh taps Euler Hermes director to expand credit specialties
Broker Marsh has hired a senior leader from trade credit insurer Euler Hermes to help expand its credit specialties business.
Michele Pignotti (pictured) joins as global growth leader for credit specialties, based in Italy.
Pignotti will work with the unit's global practice leader Nick Robson to deliver the services and solutions offered by credit specialties supporting clients in managing their surety, credit, and political risk and insurance needs, particularly as they adapt to the post COVID-19 trading environment and growing environmental, social, and governance (ESG) regulatory requirements.
Prior to joining Marsh Specialty, Pignotti was the board member responsible for marketing, distribution and commercial underwriting for five years at Euler Hermes. He has held several senior positions during his 17 years at the company, including head of the Mediterranean, Middle East, and Africa region, and CEO of Euler Hermes Italy.
Robson said: “As organisations plan their recovery from the economic impact of COVID-19, credit specialties risk and insurance solutions will be a key enabler of success by supporting sales growth, reducing capital costs, and helping to manage the impact of bad debt.
“Michele is an outstanding individual with extensive international industry experience; we welcome him to the team at this pivotal moment, and look forward to him working with our global clients to support their growth and investment strategies.”
Pignotti added: “As many government backstops come to an end, now is the time for organisations to reassess their credit management strategies and plan for high growth but with increased uncertainty. While credit specialties solutions fundamentally offer balance sheet protection, they can also facilitate new sales, secure supply chains, improve cash flow, increase financing lines and reduce borrowing rates, which enables firms to capitalise on growth and investment opportunities securely.
“ Marsh has a strong reputation for developing innovative solutions that support clients in expanding beyond their borders, or breaking into new sectors. I am excited to join the Marsh team and will relish the opportunity to develop an already compelling proposition and contribute to our clients’ success.”
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