Willis expands financial solutions division in Hong Kong

Willis Group Holdings has appointed Les Collett to establish a financial solutions office in Hong Kong.

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.

“Les will continue the successful development of our political and trade credit risk practice in Asia,” said Paul Davidson, CEO of Willis Financial Solutions. “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.”