London-headquartered trade credit insurance solutions provider Bondaval is seeking to expand its presence in North America with the appointment of former Wells Fargo executive Lisa Varney. 

Varney joins as head of business development for the Americas, a New York-based role, after nearly 10 years at the US lender’s corporate and investment bank, where she held the position of senior vice-president and head of credit risk insurance. 

Varney previously spent three years as senior vice-president at Marsh and four years as vice-president at Willis Towers Watson, advising corporate clients on political risk and structured credit. She is also vice-chair of the International Trade and Forfaiting Association’s advisory board for the Americas. 

Bondaval, which uses technology to provide payment default protection, says Varney is expected to help the company continue its growth in the US and Canada and expand its reach into new industries. 

“Given her extensive background across underwriting, broking and purchasing credit insurance, we believe Lisa is uniquely placed to help grow Bondaval across the Americas,” says chief executive Tom Powell. 

Powell founded Bondaval in 2020 alongside chief underwriting officer Sam Damoussi. The company has 28 employees across Europe and North America and has raised more than US$25mn in funding.