Willis Expands Financial Solutions Division in Hong Kong
Les Collett hired from Standard Bank to expand political and trade credit risks regional footprint in Asia
London, UK, September 4, 2013 – 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.