Willis extends political and trade credit risk practice to Hong Kong

Willis Financial Solutions has given Les Collett the job of establishing its new office in Hong Kong.

Collett, who will start his new role on 1 October, is currently head of loan syndications, global markets Asia, at Standard Bank. He is also the treasurer of the Asia Pacific Loan Market Association.

Collett moved to Hong Kong from London in 2007, and his previous positions include executive director at Calyon, senior manager of syndications at HSH Nordbank, and head of UK marketing at Bankgesellschaft Berlin.

Building on Singapore base

Willis Financial Solutions chief executive Paul Davidson said his firm already had a strong position in the region thanks to its 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,” he said.

Collett’s knowledge of the commodities industry and banking sector would enable Willis to enhance its advice and insurance solutions for clients, he added.

Collett said that he was looking forward to working with Willis’s existing and expanding client base.

“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,” he said.