“As companies continue to expand within the Asia Pacific region and beyond its borders, they are becoming increasingly exposed to risks such as Directors and Officer’s (D&O), Cyber and Professional Liability, in addition to threats stemming from mergers and acquisitions,” notes Willis Group Holdings.
In response the global broker has mobilized its growing regional Financial, Executive Risk and Professional Liability business (FINEX) under Tony Mitchell to lead the unit in the Asia Pacific sector.
He is based in Singapore, reporting to Roger Wilkinson, CEO of Willis Asia Pacific, Africa and Middle East, and Roland Avery, Chairman, FINEX Global in London. Mitchell will oversee 70 FINEX Associates in 18 offices across 13 countries.
He has been a broker for financial lines and specialist insurance in the region for the past 23 years, and joins Willis after four years with Lockton, where he was CEO of their Asia Pacific operations. Before that, he worked as a Managing Director of Jardine Lloyd Thompson in both Singapore and Hong Kong for over 19 years.
Willis said its Asia Pacific region “has been developing its financial and executive risk capabilities in recent years, forming a dedicated FINEX team in Hong Kong in 2010, and a 15-strong FINEX team in Greater China in 2011, along with a Japanese team.
“With over 20 percent of all class action suits filed in the US last year being against US-listed Chinese companies, Willis’ Greater China FINEX team has helped over 70 US-listed Chinese companies manage their legal and regulatory risk exposures in the first few months of its existence.”
In addition Willis said that “all of FINEX Asia Pacific teams perform an important educational function in the market holding regular seminars for corporates and insurers in the region to highlight new threats such as Cyber attack and regulatory risk and the risk management solutions that exist to mitigate them.”
Wilkinson pointed out: “There is a rapidly growing demand for protection against financial and executive risk across the Asia Pacific region. With his unparalleled experience of broking in this dynamic marketplace, Tony will harness and integrate our various FINEX capabilities across the region to form a market-leading financial and executive risks offering.”
Avery added, that Mitchell and his Asia Pacific team “will be backed by the international expertise of FINEX Global which has years of experience as an innovator and a leading service provider to financial institutions, commercial organizations and professional services firms. In addition, Tony will have all the Group’s resources at his disposal to deliver on-the-ground solutions for our clients and to lead one of our fastest-growing businesses.”
A global team of over 450 FINEX experts provide clients with specialist advice and services in the Financial, Executive Risk and Professional Liability from offices throughout the world including Europe, North America, Asia Pacific and Latin America.
Source: Willis Group Holdings plc
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